Prime Minister Justin Trudeau has announced new aid for Canada’s battered oil and gas sector, responding to pleas for help as commodity prices fell to record lows and demand disappeared due to COVID-19.
Speaking at his daily news briefing in front of Rideau Cottage, Trudeau said Ottawa would spend $1.7 billion on cleaning up abandoned oil and gas wells in Alberta, Saskatchewan and British Columbia. He also announced a $750 million Emission Reductions Fund, including $75 million to help the offshore oil industry.
The measures are expected to help the sector maintain roughly 10,000 jobs across the country.
Read the full article and more in Yahoo! Finance.