Re: “O’Toole wrong on carbon taxes,” Nov. 9, 2016
John Peate is somewhat selective when it comes to the truth about carbon taxes. To begin with, BC and Quebec are the only provinces who currently price carbon emissions. Alberta’s carbon tax is not due to start until January 2017. Ontario’s carbon tax also starts January 2017 and is part of a really bizarre cap and trade system with Quebec and California.
The sad truth is that carbon taxes in BC have not lead to any substantial reduction in carbon emissions and the recent sale of carbon permits by the California and Quebec governments (under cap and trade) managed to raise about 10% of the anticipated government revenues. There is also a better than average chance that the California government will lose the Court of Appeal case over whether or not their cap and trade system is even constitutional.
The reality is that the EU cap and trade system as been an unmitigated disaster filled with graft and corruption and has lead to 11% of Europeans living in energy poverty. according to the European Commission. Is this what we want for Ontario and Canadian taxpayers? Carbon pricing schemes that do little to reduce carbon emissions, have no effect on climate change while driving Canadians in to financial hardship.