Without subsidies, they’re just not profitable
News breaking from Canada: It turns out that once the government stops subsidizing fossil fuel developments … fossil fuel developments are increasingly unprofitable!
Brief summary of the link: It looks like all forms of fossil-fuel development in Canada — especially the tar sands — are going to suffer as governments are forced by public pressure to reduce the subsidies and tax breaks they’ve been doling out. This looks to be equal parts environmental activism and populist "screw the oil barons" attitude, but whatever it is I say huzzah!
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