By Cloe Logan, National Observer, Local Journalism Initiative Reporter

A B.C. program that has been referred to as a “tax loophole for fracking operators” cost the province $1.162 billion in royalty revenues last year.

That’s according to a Stand.earth analysis of the province’s 2021-22 budget. Sven Biggs, the organization’s Canadian oil and gas program director, said the money lost through the Deep Well Royalty Credit program represents a broken promise from the provincial government.