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Ottawa pledges $1.6 billion for energy sector


December 18, 2018  


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Canada’s battered energy industry is getting a $1.6-billion boost from Ottawa to try to slow the political and economic bleeding.

Natural Resources Minister Amarjeet Sohi and International Trade Diversification Minister Jim Carr were at an Edmonton college campus to unveil a support package for oil and gas companies, which are reeling from record-low oil prices.

According to Canadian Pres,s funds will be divided among several different programs, including money to help companies invest in clean growth, loans, and other financial supports to help companies find new markets away from the United States, as well as investments in training and new technology.

It is a package based, in some ways, on those offered to softwood, steel and aluminum producers after the United States dealt them direct blows with new import tariffs.

(Canadian Press)