Members of the Canadian Taxpayers Federation set up a display at a North Kamloops gas station on Thursday in a bid to raise awareness of billions of tax cash lost due to the poor price of domestic oil.
Canadian Taxpayers Federation directors Franco Terrazzano and Kris Sims stopped in at the Canco gas station on Tranquille Road as part of a cross-Canada tour raising awareness of the $6.4 billion and counting in various federal tax revenues Canadians have missed out on since 2013 because of the low price of Canadian oil.
“That means we all have less money for important services like hospitals [and] teachers,” Terrazzano said.
“From east to west, even if you’re not in the energy sector, you could be better off if governments let job creators build pipelines.”
Based on data released from the parliamentary budget officer, the CTF calculated how much additional revenue the federal government would collect if there was no differential between the Canadian and American price of oil, which is impacted by differences in transportation and quality.
Terrazzano said Canada isn’t getting full value for its oil because it lacks pipeline capacity to reach foreign customers, an issue he said projects like Trans Mountain expansion, Northern Gateway and Energy East could alleviate if not hampered by unworkable regulatory conditions.
The tour began in Ottawa on May 24 and wraps up in the Prairies this week, hitting locations in every province across Canada.
The Canadian Taxpayers Federation is a not-for-profit group that advocates for smaller government and lower taxes.