Ottawa’s plan to end tax allowances for oil firms seeking to drill new wells is riling the energy sector – especially small and medium-sized producers who have already been hit hard by the oil-price drop and increasing competition from the United States.
Canadian firms say the push to eliminate any preferential tax treatment for oil and natural gas development, in large part to honour federal environmental commitments, adds to their list of problems as they try to distinguish themselves in the global hunt for energy investors.
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