How Could Carbon Pricing Reduce Canada’s CO2 Emissions?

The Case for a Carbon Tax in Canada – Setting Course for a Low-Carbon Economy (286 page pdf, pp 98-135, Nicholas Rivers, Canada 2020, Jun. 18, 2015)
Also discussed here: World Energy Outlook Special Report 2013: Redrawing the Energy Climate Map  (134 page pdf, International Energy Agency, Jun. 10, 2013)

Today we review a paper that examines the benefits and myths about carbon taxes and then suggests ways of implementing them in Canada. The main benefit which has been seen by administrations that have done it (such as British Columbia) is that it is 40%-90% less costly to implement than by regulation. The “unpopular” myth is contradicted by polls showing support by a majority of Canadians and business and even by oil companies whom politicians are trying to “protect”. The “ineffective” myth is proven incorrect from BC where emissions were reduced by 10% and in the UK where they fell by 18%. A simple tax on all carbon fuel burned is proposed with the main decision by government on what level to set the tax – which could be set to the social cost of carbon which has been at about $40/t CO2 which would raise about $25 B in revenue each year (enough to subsidize low income people impacted by the tax as well as to return revenue to the public as a whole through lower income taxes).

co2 emissions canada 2013

To see Key Quotes and Links to key reports about this post, click HERE


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