Car­bon na­tion

Alberta Oil - - OBSERVER | NEWS NUMBERS PEOPLE PLACES -

IN EARLY OC­TO­BER, PRIME

Min­is­ter Justin Trudeau an­nounced a na­tional floor price on car­bon emis­sions, re­quir­ing ev­ery province and ter­ri­tory to charge emit­ters at least $10 per ton by 2018 and $50 per ton by 2022. The plan al­lows for some im­pro­vi­sa­tion among pro­vin­cial gov­ern­ments on whether to price car­bon through a spe­cific tax, as Bri­tish Columbia has since 2008, or im­pose a car­bon cap-and-trade sys­tem, as Que­bec did in 2014 and On­tario will in 2017. Of course, Al­berta’s own $20-per-ton car­bon levy will show up next year on con­sumer pur­chases of gaso­line, diesel, nat­u­ral gas and propane—a levy that govern­ment and in­dus­try are now lever­ag­ing for a pipe­line from Trudeau. While the B.C. sys­tem is re­put­edly rev­enue neu­tral, mean­ing the govern­ment re­turns the rev­enues through re­bates and tax cuts, the Al­berta sys­tem will feed two-thirds of its rev­enues into projects aimed at di­ver­si­fy­ing the economy away from re­source ex­trac­tion and to­ward re­new­able en­ergy, tran­sit in­fra­struc­ture and en­ergy ef­fi­cient build­ings.

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