The destructive impacts of our fossil fuel economy are plain to see for many Canadians.
With hundreds of wildfires burning across the country, forcing evacuations and polluting people’s air, this is set to be the fourth-worst fire season on record. It’s an accelerating tragedy made twice as likely due to burning fossil fuels, according to scientists. Cash-strapped Canadians are also dealing with eye-watering prices at the gas pump that is a leading cause of inflation. Almost two-thirds of those polled in July listed the cost of living as one of their top three concerns.
But not everyone is suffering.
DeSmog analyzed publicly available financial filings and mandatory disclosure documents showing that corporate leadership at Canada’s largest oil sands companies are booking millions in windfall paper profits from ballooning stock prices.
These online documents include management information circulars filed in advance of annual corporate meetings detailing executive compensation and stock holdings for senior management. Companies are also required to publicly disclose share transactions involving senior management.
