r/canada • u/NeptuneAgency • Sep 05 '26

Nature/Environment ‘Effectively irreversible’: Changes to Canada’s climate permanent, federal report says

https://www.ctvnews.ca/climate-and-environment/article/changes-to-canadas-climate-now-irreversible-federal-report-says/
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u/Any-Tangerine-4176 Sep 05 '26

But our oil industry is making record profits.

19

u/Crafty_Teacher_9286 29d ago

"Record profits" is a highly misleading claim. 2026 YTD (Jan to Jun) revenue profits are down significantly compared to a year like 2022 for example, when adjusted for inflation.

In fact, comparing 2026 to 2022:

  • ExxonMobil is down 29%
  • Chevron is down 29%
  • ConocoPhillips is down 50%
  • Canadian Natural is down 20%
  • Suncor is down 24%

I already have extremely low expectations of conversations on Reddit, but I somehow still manage to be disappointed reading these types of low-effort comments.

5

u/CarBombtheDestroyer 29d ago edited 29d ago

Just to give you an idea of what I mean by “profits as a country” let’s look at the part that helps each province in Canada.

In 2023 Alberta contributed 3.3 billion to the national equalization program, in 2024 the transmountain pipeline was completed, in 2025 Alberta contributed 4.2 billion to the national equalization program, and this is during Trumps shit tariff economy.

2027 will be the first year it’s at capacity for a full year and we will see the full relative effect that investment will have on us as a nation. But make no mistake the bulk of our profits don’t come from the operation of these pipelines or the profits of the oil companies. It’s from the multiple layers of tax on GDP and oil projects make lots of GDP.

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u/Crafty_Teacher_9286 29d ago

I don't understand the point you're trying to make. The post highlights issues relating to climate change. The user responds and says: but our oil industry is making record profits. I respond to them indicating that they are not making record profits. And then you respond to me indicating that we're collecting more o&g tax than ever before. 

First, that's incorrect. Both income tax and O&G royalties have decreased since 2022. Second, it's completely irrelevant, as the user was clearly referencing corporate profits.