Representatives from Canada’s oilpatch said Thursday they don’t know of a single energy company that has yet benefited from any of Ottawa’s pandemic-inspired loan programs and many think the cost to access them is too high.
Finance Minister Bill Morneau has put billions of dollars on the table to help oil and gas companies, as part of the government’s massive COVID-19 aid packages.
That includes $750 million in what the government is deeming “repayable contributions,” to help companies meet new standards on methane emissions coming from oil production facilities.
There are also different kinds of capital or operating loans available for small, medium and large companies. But several company owners and industry advocates told a virtual