Green Caucuses call on Prime Minister, Premiers, to implement a windfall profits tax on oil and gas

FREDERICTON – New Brunswick Green Party leader and MLA for Fredericton South David Coon is joining Sonia Furstenau, Leader of the BC Greens, and Peter Bevan-Baker, Leader of the PEI Greens, in calling on the Prime Minister and Premiers across the country for a national tax on the windfall profits of oil and gas companies.

 “New Brunswickers are really struggling with the rising costs of living, including gas, food and home heating,” said Coon.  “I am joining my Green provincial colleagues from across the country to call on the Prime Minister to establish a one-time tax on the windfall profits of the oil companies and redistribute the revenue to Canadians. In fact, during question period I asked Premier Higgs if he would join me in this effort.”

 A recent analysis by Acadie Nouvelle found that the profit margins on gasoline for oil refineries in Canada, including the Irving Oil Refinery in Saint John, have more than doubled in the past year. At the same time, Bloomberg reported that Irving Oil owner Arthur Irving’s wealth has increased by almost $2 billion this year.

 “While Canadians are struggling to meet their basic needs, oil companies are raking in record profits,” said Coon. “The United Kingdom, among others, have already established a windfall profit tax on oil companies. Justin Trudeau should do the same.”

 For more information on windfall profits taxes: