Guilbeault slams oilpatch for raking in cash and sitting idle on climate actionOTTAWA — The federal environment minister is calling out Canada's oil companies for failing to put cash behind their promises to tackle climate change. Steven Guilbeault says the country's major oil players have promised to do something about greenhouse gas emissions, but instead have funnelled most of their record-breaking profits to shareholders. This is at least the third time in the last six months Guilbeault's frustration has spilled over as oil company profits soar. Global oil prices surged early in 2022 largely due to the Russian invasion of Ukraine, and Canadian companies reaped the benefits. Oil companies had asked for coverage of up to 75 per cent and were not happy with the proposed 50 per cent.

Source: CBC News October 29, 2022 18:53 UTC