Big Oil’s profiteering

Leadnow

Asarial,

For months, the Leadnow community has been fighting for a windfall tax on Big Oil’s profits — and now, momentum is growing.

This week, the UK — under conservative leadership — increased their windfall tax on Big OIl’s profits. [1] It’s a sign that the fossil fuel industry can no longer get away with hoarding their profits while everyday people struggle to pay their bills.

The UK has set the bar — and if we ramp up the pressure now, we can show Prime Minister Trudeau and Minister of Finance, Chrystia Freeland, that we’re tired of Big Oil keeping our environment and wallets hostage.

That’s why, next week, we’re delivering thousands of petition signatures directly to Trudeau and Freeland’s offices alongside our allies at 350 Canada and Environmental Defense.

But in order to grab their attention, our petition needs to be massive. Asarial, will you tell Trudeau and Freeland to make Big Oil pay their fair share?

https://act.leadnow.ca/big-oil-tax

In solidarity,
Kate and Dan for Leadnow

Sources
[1] ​​https://www.cnn.com/2022/11/17/economy/windfall-tax-nuclear-uk-budget


Here’s our original email with more information:


Asarial,

We’ve all seen the headlines: runaway gas prices are hurting Canadians’ wallets. It’s all happening because Big Oil’s insatiable greed is driving up costs leaving us to foot the bill. [1,2]

It means oil and gas companies are running off like bandits profiting massively from torching our planet — while the rest of us struggle to make ends meet. Your pain at the pump is being funneled towards their bottom line. [3,4]

It doesn’t have to be this way — it shouldn’t be this way. The Conservative government in the UK just announced an excess profits tax on the runaway profits of Big Oil to help address inflation. [5]

But here’s the thing, Asarial. The UK government only made this move after facing tremendous public backlash for siding with Big Oil over the needs of ordinary people and being hit with story after story of people having to make impossible decisions over their energy bills. [6]

The first step to make it happen in Canada is for tens of thousands of us to rise up to demand the government take action on the runaway profits of oil and gas companies and implement an excess profits tax. If we can ramp up the pressure right now, we can show them that we’re tired of Big Oil holding our environment and our wallets hostage.

Asarial if you think it’s time for Big Oil to pay their fair share, will you add your name to the petition now?

Asarial, the price of extraction hasn’t risen, so Big Oil is raking in billions as gas prices spiral. If the rise in costs was directly related to rising operation costs, you wouldn’t see shareholders lining their pockets with record breaking dividends. [7,8]

In the UK, they set the excess profits tax at a whopping 25% and it’s projected to raise more than $8 billion CAD in just one year. [9] Imagine what we could do if we made Big Oil pay their fair share here.

Taxing excess profits could fund a just transition away from fossil fuels and towards renewable energy for a greener, fairer, and more sustainable economy that works for everyone — not just Big Oil. It could help lighten the burden on everyday people.

We’ve got a plan to turn up the heat on the federal government and it all starts with adding your name to the petition to demand Big Oil pay their fair share. Will you add your name now?

For months the UK’s conservative government shut the door on an excess profits tax. But thanks to immense public pressure and headline after headline they were forced to change their tune. If it can happen there, it can happen here. But one of us alone couldn’t change the mind of the federal government. It’s going to take all of us speaking out. Add your name to the petition now.

https://act.leadnow.ca/big-oil-tax/

With hope,
Simran and Maggie for Leadnow

Sources:
[1] www.theglobeandmail.com/canada/article-gas-prices-continue-to-surge-higher-in-canada-with-more-increases/
[2] ottawa.citynews.ca/local-news/rapidly-rising-record-gas-prices-show-no-signs-of-slowing-5447211
[3] www.offshore-energy.biz/oil-gas-firms-profits-set-to-smash-records-reaching-834-billion-in-2022-rystad-says/
[4] www.cbc.ca/news/business/suncor-earnings-profits-triple-1.6447625
[5] www.cbc.ca/news/business/britain-gas-oil-tax-1.6466747
[6] www.bnnbloomberg.ca/u-k-slaps-25-windfall-tax-on-oil-and-gas-profits-1.1770930
[7] see [3]
[8] see [4]
[9] see [6]


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Leadnow.ca is an independent campaigning community that brings Canadians together to hold government accountable, deepen our democracy and take action for the common good. You can follow us on TwitterFacebook, or Instagram. To contact us, you can reply to this email. This message was sent to wordpress-pub@destrukt.ca, because you previously signed on to a Leadnow.ca campaign. If you no longer want to be part of our campaigning community, you can unsubscribe at any time


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