My second Globe and Mail Economy Lab post on the new Liberal Platform is available here. After this piece was posted, Liberal Senator Grant Mitchell posted a response to some of the questions I raised here. Rick Szostak posted another response detailing how revenues from the auction of permits would remain in Alberta here.
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Great article. Ultimately $75/tonne CO2 means a new tax of 20cents/litre at the pumps. (assuming 8.8kg CO2 per US Gallon plus HST) A liberal Green Tax for all to enjoy!
Hi Tom, thanks for reading.
I think it’s important not to consider it in a vacuum. I am working on another piece right now, but the real argument seems to be cap-and-trade vs. a regulatory approach. If you regulate significant emissions performance improvements upstream and at the refinery, and also regulate more fuel efficient cars, the cost could be significantly higher for some people and locations.
The income redistribution is one issue that needs to be addressed, but really important to consider that there would also be income shifting in a regulatory approach.
Cheers,
Andrew