Revenues from British Columbia’s monthly tenders of petroleum & natural gas (P&NG) rights are no more.
During the five years 2005 to 2009, average ANNUAL revenues to the public from those tenders were $1.4 billion annually, in 2020 dollars.
P&NG royalties are disappearing too.
Yet production has soared in the past decade.
Policies that originated under Gordon Campbell and Christy Clark, which are accelerating under John Horgan, result in BC trending toward no public share of this natural resource value.
In addition, taxpayers incur major expenses administering the resource and will, of course, face massive costs for restoration of oil and gas sites.
By promoting acceleration of fossil fuel production, the Horgan Government is shown to be run by climate change deniers.
The NDP’s CleanBC is a public relations program that is a massive lie to Canadians who want governments to act on resolving the Climate Crisis.
Promoting and subsidizing natural gas production by ending industry payments for rights and royalties, while government also offers billions in electricity subsidies is indefensible.
But the most serious issue is the environmental effect, on the ground and in the atmosphere.
Future generations will decry what we’re doing.