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Carbon Tax - Putting a Price on Carbon Emissions

http://www.canada.com/victoriatimescolonist/news/story.html?id=c175b233-68ff-45bf-b42c-21b0dab48b55&k=59838

While Climate Change mitigation discussions in the US are focused on a "Cap and Trade" mechanism, the Canadian province of British Columbia has moved to implement a carbon tax. By focusing primarily on fossil fuel usage, the province intends to reduce carbon emissions in 2020 to a level some 33 percent below 2007 levels. The plan is intended to be "revenue neutral", but even so, the introduction of the effort in July 2008 has not been without controversy. The Trucking industry in British Columbia have been one of the more outpsoken critics, noting that their drivers are paying out more than they receive back in taxes. Economists generally say that a carbon tax is probably the most efficient way to reduce carbon emissions, but regardless of whether a Cap and Trade market mechanism or an outright tax is chosen, a price on carbon is essential and must be high enough to elicit changes in behavior for any measure to be effective.

 

Canada.com; August 7, 2008

Submitted by R. Campbell

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This page contains a single entry published on August 7, 2008 9:00 AM.

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