Tax Big Oil's Wartime Profits

Huge news: 60+ organizations have signed on to a joint letter calling for an Excess Profits Tax. Check it out here.

This year alone, Canadian Oil and Gas companies could make extra profits to the tune of $50-100 billion

As a result of the illegal war on Iran, Canada’s oil giants are raking in billions they didn’t earn and don’t deserve.

They’re not innovating or investing. They are just passively profiting from the global oil price shock. Every time gas prices go up, Big Oil squeezes more money from everyday Canadians, transferring it to the richest of the rich. Working people get poorer, while executives and investors make astronomical profits.

It’s time to stop war profiteering and return money back to Canadian families and communities.

Take action now

We're calling for an excess profits tax of 75% on fossil fuel companies

This would follow the precedent that the Canadian government set during World War II to protect Canadians from corporate war profiteering and support our families and communities.

A 75% excess profits tax on Big Oil Could unlock up to $75 billion

for direct relief to Canadians and investment in renewable energy, public transit, and an East-West Grid to protect us from fossil fuel volatility in the future.

Tell the Carney government to immediately implement a 75% tax on the excess profits of fossil fuel companies

This decisive action would raise up anywhere from $37.5 – 75 billion to fund:

Direct relief to households struggling the most under the current oil price shock
Support for renewable energy projects, public transit, and affordable green housing
Federal funding for an East-West Grid that brings affordable, renewable energy to all

April 30th “Oil is costing us too damn much” Action Call

Thank you to our special guests Jim Stanford & Serena Mendizabal!

More important actions

Call your MP

Together, we flooded the phone lines of our MPs, urging them to implement an excess profits tax on the fossil fuel sector immediately. It’s time to stop war profiteering and return money back to Canadian families and communities. We’ve made it easy with a one click tool and pre-written script, so make your call today.

CALL YOUR MP

Flood the Federal Budget Consultation

The Carney government has launched a public consultation for their 2026 budget. The government’s last budget was a brazen attack on climate action and public services, so it is vital that they hear about our priorities as they craft their next one. We are kicking off a mass public intervention to flood the system with demands for an excess profits tax on oil and gas to fund a renewable energy transition. We’ve drafted a brief for you, so it will just take 2 minutes to make your submission and show your support.

MAKE YOUR BUDGET SUBMISSION

Countering Big Oil Propaganda

These are dangerous times. The fossil fuel lobby is exploiting geopolitical instability to make a case for new expansion projects, and spreading myths about pipelines being necessary to secure our economy. We have to fight back. That’s why people across the country are hosting Toxic Trivia parties to bust Big Oil’s propaganda one game at a time. After seeing such massive enthusiasm for these community events, we’ve extended the deadline for our Toxic Trivia Party Pizza Fund. Sign up by May 15th to host a local Toxic Trivia event and we will give you your very own Toxic Trivia deck and a pizza budget!

HOST A TOXIC TRIVIA PARTY

Pausing the Gas Tax Doesn’t Help Canadians

By pausing the gas tax, the Canadian government is missing the mark. They are simply giving the oil and gas sector a $2.4 billion subsidy. Doing so enables skyrocketing profits for oil and gas companies and defunds our public services.

Relief for Canadians should come from Big Oil’s ballooning profits — not from our schools, hospitals, and public services.

An excess profits tax is only part of the solution

Few words can describe the absolute devastation, death, and destruction that Israel and the US’s war-mongering has unleashed in Iran, Lebanon, and Palestine. And now, beyond the region, with an energy crisis that has brought some of the most vulnerable communities across the world to a new breaking point. It’s time for all world leaders to act decisively to stop war, prevent corporate profiteering, and protect people.

LEARN MORE ABOUT OUR GLOBAL CAMPAIGN

We are part of a movement for a Great Power Shift!

Soaring energy bills. Skyrocketing food prices. Worsening climate disasters. These aren’t separate problems. They share the same root: a world still hooked on oil, gas and coal – and governments choosing to support fossil fuel companies with public money.

But this isn’t inevitable. It’s a political choice.

Join us for The Great Power Shift, 350.org’s 2026 global campaign to shift the power away from polluters and back to people.

Together, we can demand a different, a better future – where people come before polluters, and clean, affordable energy is within reach for everyone.

MORE ON THE NUMBERS

Our estimates are informed by the models explained in the pieces below. The projected range depends on how long this crisis lasts, and on how the price of oil and gas changes in the coming months.

Trump’s war on Iran hasn’t altered Canada’s cost of making gas — at all. So why are we being hosed at the pumps?
–The Star

Note to Pierre Poilievre: Massive petro profits — not taxes — are to blame for $2 gas
– The Star

The oil industry is making billions from the Iran war—it should be taxed
– Canadian Centre for Policy Alternatives

Mark Carney just cut gas taxes. He should be raising these taxes instead
– The Star

More Fossil Fuel Subsidies Won’t Help With Affordability
– Environmental Defence

Canada’s oil producers in line for C$90bn windfall from Iran war
– Financial Times