There’s scant evidence the carbon tax has helped reduce greenhouse gas emissions.
Canada plans to impose a punitive tax on carbon to discourage emissions, at $170 per tonne by 2030.
So-called “clean” energy sources will not be able to entirely replace fossil fuels in the near term.
The Trudeau government recently announced a federal grant of up $420 million to Algoma Steel.
If Canada removed all fossil-fuel cars from the roads, emissions would only drop by 5 per cent.
Cutting emissions by 25 per cent would impose a permanent cost of about 2.0 per cent of GDP.
If you think we need to reduce CO2 emissions, use a single targeted policy to reduce CO2 emissions.
The plan introduces a new package of regulations including a renewable gas mandate.