Call for windfall tax on oil and gas companies 'profiting' from Russia-Ukraine conflict

Three Tesla electric vehicles drive past a sign displaying the price of a litre of regular gasoline after it reached a new high of $2.28 in Vancouver on Saturday, May 14, 2022. THE CANADIAN PRESS/Darryl Dyck

Political leaders in three Canadian provinces are calling for federal action as gas prices reach record highs across the country.

B.C. Green Leader Sonia Furstenau joined her counterparts in New Brunswick and P.E.I. in a call for a national tax on the profits of oil and gas companies.

In an open letter, she, David Coon and Peter Bevan-Baker, leaders of their respective provincial Green parties, say the prime minister should implement a windfall profits tax.

In a news release, the Green caucuses say such a tax should be collected from fossil fuel companies and then distributed to Canadians across the country who are struggling to make ends meet.

"There is a precedent for taxes on windfall profits," the trio said in a statement Monday.

"Across Europe right now, we are seeing countries bring in these windfall taxes for energy companies profiting from war in Ukraine. Canada should do the same - especially as it gets harder and harder for people to meet their basic needs."

The leaders are also calling on premiers to add their voices to the calls.

"The B.C. provincial government has failed to address these crises (housing, inflation and gas) or invest in accessible transportation options," Furstenau said.

The NDP government promised a one-time rebate for B.C. drivers to make up for the gas price increase, but many critics said the cheques being sent would barely be enough to cover a single tank of gas.

In its 2022 budget, the John Horgan Government outlined its priorities as, in addition to the COVID-19 response and other goals, increasing the affordable housing supply and taking action to fight climate change.

With files from The Canadian Press