The Globe and Mail reports in its Friday edition that Cenovus Energy chief executive officer Jon McKenzie says Ottawa's plans to eliminate future fossil fuel subsidies are little more than political rhetoric. The Globe's Emma Graney writes that Environment Minister Steven Guilbeault on Monday released conditions under which it will allow subsidies to the oil and gas industry. He could not say how much financing would be affected, but officials said government programs that could be affected by the guidelines control about $1-billion in public money. Mr. McKenzie told investors on Thursday that he is not aware of any subsidies that are direct and unique to the sector. He said: "I've been in this industry for a lot of years, and many of those years have been spent in finance. And I certainly remember writing a lot of cheques to the provincial and federal governments, but I don't remember receiving a lot of cheques in return." Cenovus spent almost $4.5-billion on royalties and taxes in 2022, he added -- the company's single largest expense, far outweighing capital expenses and shareholder returns. Mr. Mackenzie said, "We're not really aware of any oil and gas subsidies for the industry."