Ontario has made $3 Billion from Cap and Trade in less than a year

mentalfloss

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
39,817
471
83
Drug Fraud not even sworn in yet and he's already fukking up worse than Wynne. :lol:


Ontario has made close to $3 billion in a series of cap-and-trade auctions since the system was introduced by the Liberals last year.

The cap-and-trade system aims to lower greenhouse gas emissions by putting caps on the amount of pollution companies in certain industries can emit. If they exceed those limits they must buy allowances at quarterly auctions or from other companies that come in under their limits.

Ford has consistently opposed carbon pricing and has come under fire for failing to explain how he would make up for the lost revenue.

NDP legislator Peter Tabuns said Ford's decision could cost taxpayers money and hurt the environment. Scrapping the system will also mean billions less in revenue for the government, money that will either have to be replaced or programs will have to be cut, he said.

"How will Mr. Ford replace the $1.9 billion per year that the cap-and-trade auction brings in for the province?" Tabuns said in a statement. "Will he be making another $2 billion in cuts to programs Ontarians count on?

Ontario Green party Leader Mike Schreiner, who was elected to the legislature last week, said ending cap and trade is bad for the province and for business. The move will cost the province jobs and money, he said.

https://www.ctvnews.ca/mobile/busin...-scrap-ontario-cap-and-trade-system-1.3975044
 
H

Hoid

Hall of Fame Member
Oct 15, 2017
20,408
4
36
He could cut back on the people inspecting things like water quality.

Mike Harris did
 
White_Unifier

White_Unifier

Senate Member
Feb 21, 2017
7,300
2
36
I tend to oppose cap and trade just because it allows the free market too little wiggle room to adapt to changing conditions, but I do favour a resource tax more broadly which would naturally include carbon.

A carbon tax (or any broader resource tax that covers carbon) has the advantage of promoting more regional trade. For example, with a higher carbon tax, a Montrealer would, all other factors being equal, prefer to buy a product made in New York City than one made in Vancouver and so promote more efficient use of our energy resources.

One problem concerns the efficient collection of a resource tax. To collect it at the pump seems less efficient than let's say just a 1/3 tax on the net profits of a resource-extraction business. That way it just needs to wright one large check to the government.

That said, I don't see how a carbon or any other broader resource tax can work well without free trade. Imagine high gas prices in the midst of a tariff war. In fact, it's contradictory. The carbon tax would be meant to encourage more localized trade whereas trade barriers between Canada and the US would force businesses to transport goods greater distances to market. In the midst of a trade war, a carbon tax seems self-defeating.
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
117,619
14,361
113
Low Earth Orbit
Ontario has made close to $3 billion in a series of cap-and-trade auctions since the system was introduced by the Liberals last year.
Click to expand...
Gross or net? What were the total capital costs? What are the ongoing costs?

Would it have been easier to raise PST?
 
Decapoda

Decapoda

Council Member
Mar 4, 2016
1,682
801
113
mentalfloss said:
Yes, we already know he has no plan.
Click to expand...

Not pissing money away on re-election freebies seems like a good start. So does vowing to do away with the punitive carbon tax scheme.

Wynne's election promise of free day care was going to cost 2.2 Billion alone. Problem solved.....next?
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
117,619
14,361
113
Low Earth Orbit
You'd be quite surprised if you knew how much cash Canadian petroleum producers are putting into "Green Technology".

www.cosia.ca

US$20M NRG COSIA Carbon XPRIZE open to anyone.

NRG COSIA CARBON XPRIZE: CONVERTING CARBON INTO VALUABLE PRODUCTS


NRG COSIA Carbon XPRIZE: Converting carbon into valuable products

Did you know that it’s possible to turn CO2 into shoes? Or bricks? Or other usable products?

We know that CO2 emissions contribute to climate change. If we can find ways to recycle the carbon from those emissions into useful products, we can significantly reduce CO2 emissions from our oil sands operations. Although, we’re constantly improving when it comes to reducing our CO2 emissions, we want to keep getting better.

The US$20M NRG COSIA Carbon XPRIZE challenges the world to reimagine what we can do with CO2 emissions by incentivizing and accelerating the development of technologies that convert CO2 into valuable products. These technologies have the potential to transform how the world approaches CO2 mitigation, and reduce the cost of managing CO2.

The finalists have been announced and the projects are progressing.
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
117,619
14,361
113
Low Earth Orbit
Convert that hummer to CNG and pay 13 cents a litre equivalent.

If you go by the flosshole definition, HUMMERS are subsidized.

Even the other hummers are too.
 
C

Curious Cdn

Hall of Fame Member
Feb 22, 2015
37,070
8
36
White_Unifier said:
You're right. Any real Canadian worthy of the name will bankrupt himself if he must to own a Hummer even if he doesn't really need one. The government should subsidize Hummers by the way.
Click to expand...

Our government bought a big chunk of GM when it was on the ropes a few years back and we did, in fact, subsidize the Hummer ... and the Chevy Suburban and a whole livery of other ridiculous vehicles.
 
You must log in or register to reply here.
Top Bottom