According to British Columbia’s auditor general, the province has handed out $1.25 billion in financial incentives to the oil and gas sector since 2009 to encourage production.
Auditor General Carol Bellringer outlined the incentives in her 2013-2014 summary of the province’s financial statements.
“To encourage production of oil and natural gas in B.C., the province provides financial incentives to oil and gas producers,” she said in the report.
“Producers have incurred expenditures that will qualify for $1.25 billion in incentive credits,” she said, “but have not yet produced enough oil or natural gas to claim these amounts. (Read more…)