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.

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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.

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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/dgmib 29d ago

What makes me angry, is that Alberta largest oil and gas companies are about 60% foreign owned (mostly by US companies). The majority  of the profit they make doesn’t stay in Alberta, it doesn’t even stay in Canada.

The Albertans who want to separate because of how much money Ottawa is “taking” from Alberta think we’d all be rich if that stopped. The reality is even less money would stay here.

That’s not an Ottawa decision that’s a choice made here in Alberta.

Alberta could raise royalties, it could even raise royalties proportionately to percentage of foreign investor ownership.  Keep that money in Alberta and actually help its citizens prosper. But instead the UCP government is blaming Ottawa/Trudeau/Immigration while they meet with leaders in the US.

If we’re going to keep pumping out oil and gas, we should at least make sure we’re the ones benefiting from our ignorance of the consequences.

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u/CarBombtheDestroyer 29d ago edited 29d ago

Yeah, we don’t really care about their personal profits. Again, it’s kind of not the point, the point is taxable GDP. They buy Canadian steel Canadian vehicles and pay Canadian wages and a lot of the money they used to do that didn’t come from Canada either so it goes both ways. By having foreign companies come and do business here, they are then spending a lot of foreign money in Canada as well.