Thursday, February 14, 2008

EnCana Doubles Dividend At Taxpayer Expense

EnCana Corp. is doubling its quarterly dividend to 40 cents a share after fourth-quarter profit rose 63 per cent to $1.08-billion (U.S.) on higher oil and gas production, it says. Oh yeah, I guess the $150 million tax bailout by Ottawa helped a little. Given the firm made $3.96 billion this fiscal year, taxpayers should get back this $150 million. Our tax dollars should not be increasing shareholder dividends with this kind of corporate welfare. Don't blame EnCana: blame the feds for this ridiculous handout.

The Harper government in Ottawa recently handed out a special $150 million tax benefit to EnCana according to The Halifax Daily News. It was reportedly for an oil and gas project in Atlantic Canada. Do they really need a government handout?

It turns out that Earnscliffe Strategy Group (ESG), with notorious Liberal ties, represents EnCana. The Federal Lobbyist Registry lists a Paul Martin Liberal organizer, Andre Albinati, as the registered lobbyist for EnCana for a few matters including tax issues since August of 2005.

EnCana should be made to pay back taxpayer cash!

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