Canada’s oil and gas industry has achieved record earnings, with some arguing for a tax on excess profits. The ministry's statement comes on the heels of United Nations Secretary General Antonio Guterres sharply criticizing the world's energy companies for making a profit at the expense of the poor. He joined other figures who have recently accused oil companies of capitalizing on a global supply shortage to fatten profits and gouge consumers. "We are seeing excessive scandalous profits of the oil and gas industry in a moment in which all of us are losing money." Daniel Blaikie, the New Democratic Party's finance critic, said there's 'absolutely' a place for the federal government to tax energy companies' 'excess profit.'

Source: CBC News August 07, 2022 08:03 UTC