View Full Version : Taxes could 'kill' Canada's energy industry: Birchcliff CEO

M1917 Enfield
06-21-2017, 10:26 PM

Taxes could 'kill' Canada's energy industry: Birchcliff CEO

Birchcliff Energy (BIR.TO 1.24%) Chief Executive Officer Jeffery Tonken is warning excessive regulation threatens to strangle the energy industry.

In an interview on BNN, Tonken said it’s more than just the carbon tax looming over his industry, arguing a web of red tape threatens to ensnare companies operating in the energy patch.

“When you add costs, and more costs, and more costs to a good business, the energy business, eventually you’re going to kill it,” he said. “You can’t continue to add taxes and expect that we’re going be able to pay those taxes, and the whole thing is going to come unwound here.”

Tonken said he believes any increases in taxes will ultimately drive companies out of business, thus reducing the overall tax base and starving social programs of much-needed funds.

“Health and education are all things that we all want, but we’re not going to be able to pay for it,” he said. “That carbon tax is a small portion of the bigger picture: We’ve got to be able to bring our costs down. And the governments cannot continue to tax us so we don’t have any free money to spend, or the economy is going to fall apart.”

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Tonken said the evolving regulatory and tax environment in the United States makes the matter all the more pressing.

“In the U.S., they’re becoming very pro-energy and they’re driving their costs down and their tax regimes are making it more competitive for them to do business down there,” he said.

“If we don’t watch out in Canada, we’re going to add too many taxes to our businesses and we’re going to strangle the golden goose.”

06-21-2017, 10:31 PM
Taxes could 'kill' Canada's energy industry


Isn't that Trudeau's goal??

06-21-2017, 10:31 PM
Killing the energy business is the publicly stated goal of both Notley and Tardo. Why is it shocking to the world when a CEO says it?

06-21-2017, 11:28 PM
Somebody needs to take Knothead down to the Stollery Children's Hospital and smash her head off the wall that pays tribute to how much these oil companies contributed to it's initial and ongoing operating costs....and that's just ONE example. Those weren't forced tax dollars. Yes, they were tax deductable...that doesn't mean they got it all back. That's not how it works. Christ...I can't count the number of places I've been in here in Edmonton that had a plaque or sign on the wall that said the place was made possible by the generous donations of (insert oil company name here). BURN THE WITCH !!!!!

06-22-2017, 03:22 AM
Canada Day be ,,,put whatever you want here.

06-22-2017, 06:49 AM
Taxes could 'kill' Canada's energy industry


Isn't that Trudeau's goal??

Yes. That's what carbon-tax is supposed to do.
Add artificial costs to productive industries to make them fail,
so that non-productive industries can get a leg up.
In the hopes that the non-productive industry can use that bootstrap to be good for the environment,
before it's driven out of business by any means by a country that doesn't care about the environment.
Resulting in impoverishment of all Canadians, in terms of the more expensive products,
the now less competitive other industries forced to use the more expensive products (including electricity prices),
and the still employed people who have to support the larger unemployed base.

killer kane
06-22-2017, 09:29 AM
See Juuuuust above.:mad1: