Ontario’s cap-and-trade plan will add 4.3 cents a litre to gas prices

[mentalfloss]

BC has reached its greenhouse gas emissions reduction target of 6% below 2007 levels by 2012 as set out in the Province’s Climate Action Plan.

Every dollar raised by the carbon tax is returned to individuals and businesses through tax reductions. None of the carbon tax revenue is used to fund government spending.

Since it was first introduced in 2008, the carbon tax has returned $500 million more to taxpayers in tax reductions than it has raised in revenue.

 

[petros]

I asked how. How are they lower?

 

[Johnnny]

Little jumps on their own are nothing, but when compounded together over time they sure add up!!!!

(Ontario Provincial Budget) + (this most recent jump) + (whats next.....) = $$$$$

When the subsidies stop coming in, it will just mean the money will have to be made up elsewhere, and that elsewhere is me and you the people reading this

 

[mentalfloss]

I asked how. How are they lower?

There is a tax incentive for companies to reduce emissions.

When they do so, they pay less on the carbon tax and get other rates lowered.

 

[petros]

A subsidy to reduce emissions?

 

[mentalfloss]

Yes?

 

[petros]

No, a tax credit.

They aren't interchangeable.

 

[mentalfloss]

In countries with well-developed tax systems, subsidies provided by reducing companies' tax burdens are commonplace. Examples include tax exemptions (when a tax is not paid), tax credits (which reduce a tax otherwise due), tax deferrals (which delay the payment of a tax) and a host of other instruments. In common language these preferential tax treatments are called tax breaks or tax concessions; public-finance economists refer to them as tax expenditures.

https://www.iisd.org/gsi/subsidy-types

 

[petros]

Not interchangeable. Find smarter authors.

 

[mentalfloss]

Salty dawg is salty.

Fossil fuel subsidies reached $90 billion in the OECD and over $500 billion globally in 2011.

 

[petros]

Just not in Canada. We give tax credits post project completion rather than cash operating money in advance.

 

[mentalfloss]

Oilpatch pains prompt Liberals to postpone cutting fossil fuel subsidies - Calgary - CBC News

 

[petros]

Only strikes that will produce get Credits. If those investors don't find oil, they get nothing.

 

[mentalfloss]

Read the article.

 

[lone wolf]

Re: New Ontario Law Will Increase Gas By 4.3 Cents Per Litre, Permanetely

The only ones trolling are the people afraid of a 4 cent jump.

That's nothing.

Better look up the definition of trolling ... and while you're at it, look up gillible if you really believe Windbag's 4 cents is really just 4 cents. Hydro was only supposed to be like 30%. Your pedigree's gonna get you fried

 

[petros]

Read the article.

The article doesn't apply to Canada beyond generalization and misleading inclusion of tax credits and I'm going to explain why.

All land in Canada is Crown Land.

Nobody not even the Injuns have Property Rights or Rights to resources that require turning a spade in the ground. Anything surface is yours to keep. Below that is Crown.

In the US landowners have Property and mineral Rights.

In the US there is nothing stopping a landowners from drilling on their property or getting paid by ex companies to drill on their land.

If oil is found those landowners hit it big.

In Canada you pay big bucks to the Crown for resource leases which are far more than any company is going to get in tax credits if they hit.

Before anything happens it's already a win for the Crown. Being the Rights owner like the private landowners in the US they get the big payday. Far bigger paydays than State or Feds in the US.

If their is oil the Crown wins again as it gets the Royalties(Crown Land... Royalties...get it) and still makes out like a bandit on the lease.

If no oil is found, the exploration company gets nothing, sh-tloads of people got jobs, trades, paid taxes, contributed to local economies making people prosper.

The tax credit is a pittance compared to the rewards.

Any questions?

 

[DaSleeper]

Dunno about the rest of Canada but in Ontario, it is the province that assigns mining rights.
After WW I a lot of land in Northern Ontario was surveyed giving owners both surface and mining rights to promote the settlement in the north....


Look at the disposition symbols for the farms around where I lived the first 20 years of my life,,,

 

[petros]

Dunno about the rest of Canada but in Ontario, it is the province that assigns mining rights.
After WW I a lot of land in Northern Ontario was surveyed giving owners both surface and mining rights to promote the settlement in the north....


Look at the disposition symbols for the farm around where I lived the first 20 years of my life,,,

Each Province has Crown Rights to their resources.

The knew there was little there. The same way they handed out homesteads in SW SK/SE AB knowing it was semi arid desert. They came planted crops, did okay for a year or two then failed. Little by little CPR and the Feds got it back and turned into massive grazing pastures where the buffalo once roamed keeping the soil alive.

 

[lone wolf]

...and this one says eight cents. Safe to say, Wynne lied....

Wynne lowballs cap-and-trade cost | Editorial | Opinion | Toronto Sun

 

[mentalfloss]

Oh good.