Cap-and-trade is coming, Ontario

Cap-and-trade is coming, Ontario

Cap-and-trade is coming, Ontario | GUEST COLUMN | Ontario | News | Toronto Sun

Let the assault on the middle class begin!
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Liberals can only do good. Think how much better the money will be spent by the gubmint than by the individuals it was taken from.
Cuz natural.
If any of this carbon tax crap has any chance of being accepted by Canadians, then the tax has to be revenue neutral.

Otherwise the public will see it as just another tax grab,,,, which it is,,,but at least it's won't be on top of other tax.
Wynne? Revenue neutral? With crippling debt, this is purly an assault Ontarians.
Quote: Originally Posted by petrosView Post

Wynne? Revenue neutral? With crippling debt, this is purly an assault Ontarians.


Revenue neutral is a fraud.
Indeed it is. Cap and trade is a huge windfall for industry. Evil Corp LLC wins again.

The Bank of Evil made a threat? Cap and trade or we call your debt?
lone wolf
The only thing in neutral is the Wynnemobile. Anyone wanna help give it a wee push into the Don Valley?
It's all a scam derp derp derp
Quote: Originally Posted by mentalflossView Post

derp derp derp

The salt has finally melted what the train didn't jelly, in your head.
No worries all the manufacturing jobs already left for China long ago, the stragglers will get smart and follow too.
Cap-and-Trade just another government tax where they try and make you feel good about paying it... Oh it's for our climate..
PC leader Patrick Brown would withdraw province from program, bring in carbon tax instead

The Ontario government's new climate-change plan kicks into high gear Wednesday, but the opposition leader is vowing to scrap the program if he wins next year's election.

The province holds its first-ever auction of greenhouse gas emission permits under its new cap-and-trade program this afternoon. Fuel companies, natural gas distributors, auto makers, steel mills and chemical factories are among the firms purchasing the permits.

Companies have already been passing on the costs to Ontario drivers and homeowners by charging extra for fuel and home heating since Jan. 1, when the program took effect.

Wednesday's auction — one of four to be held this year — could generate $513 million for the province if all the carbon allowances are sold at the minimum price. The government is estimating the program will raise $1.9 billion annually and by law must put the money into projects that reduce greenhouse gas emissions, such as public transit and home energy retrofits.

PC leader Patrick Brown said Tuesday he would "withdraw" the province from the Western Climate Initiative, the joint cap-and-trade program bringing together Ontario, Quebec and California.

"I would dismantle cap and trade," Brown said in response to a question from CBC News. "It makes Ontario less competitive and if it was really about the environment it would not be a revenue tool for government."

Brown called the program "a $1.9-billion cash grab."

He is promising instead to implement a carbon tax to cut emissions and make it revenue-neutral by providing rebates of some combination of income tax, sales tax, or small business taxes. "We're still going through our policy process on that," Brown said.

The Liberals reject the "cash-grab" claim. "Our approach guarantees greenhouse gas reductions at the cheapest price possible, unlike Brown's carbon tax which would cost families four times more," said a statement from the Liberal caucus.

The most recent auction involving California and Quebec's joint carbon market sold just 12 per cent of the available permits. That result was labelled "disastrous" by Chandan Kumar, chief economist for Climate Connect, a company that monitors carbon markets around the world.

Analysts expect Wednesday's Ontario-only auction will be far more successful and sell most of the 25 million allowances available.

Under the terms of the auction, Ontario industries must pay at least $13.57 (US) for each allowance, equivalent to one tonne of carbon emissions.

There is some uncertainty about the future of California's participation in the cap-and-trade program. The California Chamber of Commerce is challenging the program in court, arguing that it's a tax that should have required a two-thirds majority in the state legislature. A lower court rejected that argument, but the business group is appealing.

Ontario plunges into cap and trade with first carbon auction - Toronto - CBC News
Original Thread
Ontario sells $472M of allowances in 1st cap-and-trade auction

Province sold out of allowances during March 22 auction

Ontario's first cap-and-trade auction sold out all current allowances, giving the new market a strong start, but the province's environment minister warned the real test of the system will be in the emission reductions it brings about.

The March 22 auction brought in $472 million, the government said Monday.

Ontario sells $472M of allowances in 1st cap-and-trade auction - Business - CBC News

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