Is carbon tax worth $10B loss?

LETTERS

MP Rachael Harder should be commended for pointing out that we must continue to develop our oil and gas industry. I also share her frustration that, despite repeated questioning by the federal Conservatives, the price tag for the Trudeau Liberal government’s carbon tax is still a secret. Some numbers are available, however. In, Economic and Fiscal Outlook, the April 23, 2018 report from the Office of the Parliamentary Budget Officer, it was projected that a federal carbon tax will lower Canada’s GDP by about $10 billion in 2022 compared to a scenario without the tax.

And what do we get for this sacrifice?

Environment and Climate Change Canada conclude that the implementation of carbon pricing (taxes plus emissions trading), if done in all provinces and territories, will lower Canada’s greenhouse gas emissions in 2022 by 80-90 million tonnes below that which would otherwise be the case. Dr. Patrick Michaels, Director of the Center for the Study of Science at the Washington, D.C.-based Cato Institute, explains that a reduction of 90 million tonnes per year will result in between 0.001 and 0.002 deg C less planetary warming by 2100 than would otherwise occur, according to the model employed by the U.S. Environmental Protection Agency.

Is possibly altering our planet’s temperature by thousandths of a degree worth a loss of $10 billion to our economy?

Tom Harris

Executive Director International Climate Science Coalition Ottawa