FEDS’ CARBON TAX ‘ANTI-BUSINESS’
Prime Minister Justin Trudeau’s climate plan makes it tough for the nutrient sector to invest in Canada, and could drive more production to China, according to the head of U.S.-based CF Industries. Tony Will, chief executive of the Illinois-based nitrogen producer, said Thursday that he’s looked at expansion in Canada — where it already has some operations — but the labour costs and “governmental actions” make any investment challenging. “The Trudeau government and some of their carbon backstop legislation makes it really challenging for us to want to put any kind of new capital up there right now,” Will said on the company’s earnings call. “They’re doing things that are really antibusiness and make it very difficult for us to want to spend money in that particular area.” The world needs nutrient production and it could be driven to China if other plants shut down, he said.