Ontario set for first cap-and-trade auction to reduce carbon emissions


mentalfloss
#1
Ontario set for first cap-and-trade auction

Ontario’s cap-and-trade system aimed at lowering greenhouse gas emissions begins in earnest Wednesday with its first auction, which other provinces said they will be watching closely as they consider their own carbon pricing plans.

The provincial Liberal government hopes the auction — held every three months — will bring in $1.9 billion a year, or $8 billion by the end of 2020, to be invested in programs that reduce emissions and help businesses and consumers adapt to a low-carbon economy.

Under the plan, businesses will have limits — or caps — on the amount of pollution they can emit. Companies that exceed those limits, which will be reduced each year, can buy permits or allowances through auctions or from other companies that come in under their limits.

The cap-and-trade system, which came into effect Jan. 1, added 4.3 cents per litre to the price of gasoline and about $80 a year to natural gas home heating costs, in addition to indirect costs that will be passed onto consumers.

The Opposition Progressive Conservatives have been critical of those added costs and party leader Patrick Brown said Tuesday he would instead bring in a “revenue negative” carbon tax, with which any increased costs to consumers would be more than offset by tax cuts.

https://www.thestar.com/business/eco...h-closely.html
 
Danbones
Free Thinker
#2
lets have the economy of "green economy" spain!!!
oh wait...
spain doesn't have an economy any more

18.6 percent unemployment - 2017
 
mentalfloss
#3
That was because of tax cuts.
 
pgs
Free Thinker
+1
#4
What happens if no one goes to the auction ?
 
petros
#5
eBay
 
Jinentonix
No Party Affiliation
+1
#6
Wynne needs to go f*ck off and die in a hole somewhere.
 
mentalfloss
#7
Why?
 
IdRatherBeSkiing
+2
#8  Top Rated Post
Quote: Originally Posted by mentalfloss View Post

Why?

It would be bad for the hole.
 
Danbones
Free Thinker
+1
#9
If you put a-hole in a hole is it bad for the whole?

jeezus...Suddenly I feel like Jack Sparrow
 
mentalfloss
#10
So you guys got nothing.
 
petros
#11
Net...
 
IdRatherBeSkiing
+1
#12
Quote: Originally Posted by mentalfloss View Post

So you guys got nothing.

What good does it do to explain it to somebody who is incapable of rational thought?