Money Doug Ford aims to lower gas prices by ending Ontario’s cap-and-trade of carbon dioxide emissions

19:27  03 july  2018
19:27  03 july  2018 Source:   thestar.com

Billions of dollars in limbo as incoming Ontario premier vows to nix cap-and-trade

  Billions of dollars in limbo as incoming Ontario premier vows to nix cap-and-trade Billions of dollars in limbo as incoming Ontario premier vows to nix cap-and-trade Jennifer Small, president of a national group that represents the Canadian window and door industry, said it wants an extension to a cancelled rebate program that has paid $500 per opening in which energy-efficient windows are installed.

Emissions trading, or cap and trade , is a government, market-based approach to controlling pollution by providing economic incentives for achieving reductions in the emissions of pollutants.

This is a list of sovereign states and territories by carbon dioxide emissions due to certain forms of human activity, based on the EDGAR database created by European Commission and Netherlands

Doug Ford is hoping to deliver on a promise to lower gas prices and do so at the expense of climate-change reduction measures.© Steve Russell Doug Ford is hoping to deliver on a promise to lower gas prices and do so at the expense of climate-change reduction measures.

Premier Doug Ford is abandoning Ontario’s greenhouse-gas-reduction measures in favour of cheaper gasoline.

Ford announced Tuesday that his newly elected Progressive Conservative government has revoked the regulation that adds 4.3 cents a litre to gas prices as part of Ontario’s cap-and-trade alliance with Quebec and California.

“Every cent spent from the cap-and-trade slush fund is money that has been taken out of the pockets of Ontario families and businesses,” the premier said in a statement.

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Ontario ’ s Progressive Conservative premier-designate Doug Ford said on Friday he was immediately pulling the province out of the cap - and - trade carbon market it shares with Quebec and California, and raising a war chest to fight the federal plan.

A spokesman for Doug Ford says Ontario ’ s incoming premier is determined to deliver on his campaign promise to scrap the “disastrous” cap - and - trade system and fight a federal carbon tax. Ford ’s pledge is causing concern in Quebec, a province that introduced a

“We believe that this money belongs back in the pockets of people. Cancelling the cap-and-trade carbon tax will result in lower prices at the gas pump, on your home heating bills and on virtually every other product that you buy,” he said.

The move is the first step toward reducing gas prices by 10 cents per litre, which was a key Tory campaign pledge in the June 7 election.

“I promised that the party with taxpayers’ dollars was over and that this would include scrapping the cap-and-trade carbon tax slush fund. Today, we are keeping that promise,” said the rookie premier, whose government will unveil its throne speech a week from Thursday.

“Cap-and-trade and carbon tax schemes are no more than government cash grabs that do nothing for the environment, while hitting people in the wallet in order to fund big government programs.”

'Assault on green energy:' Industry slams Doug Ford's decision to cancel incentives

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The cap - and - trade system aims to lower greenhouse gas emissions by putting caps on the amount of pollution companies in certain industries can emit.

TORONTO — Ontario will scrap its cap - and - trade system and challenge federal rules on carbon pricing as soon as the newly elected Progressive Conservatives take power at the end of the month, premier-designate Doug Ford vowed Friday.

Ford said the government “will immediately begin an orderly wind-down of all programs funded out of cap-and-trade carbon tax revenues.”

That means an end to $1.9 billion in annual programs bankrolled by cap-and-trade revenues, including subsidies for retrofitting windows and energy-efficient insulation to help consumers reduce hydro and natural gas bills.

But the new government has left open the possibility of future environmental initiatives for consumers, which will “made on a case-by-case basis” and “paid for out of the tax base.”

“We are getting Ontario out of the carbon-tax business,” said Ford.

“Our focus will be to give people lower gas prices, lower energy bills and a real break in their wallets in order to get our economy going and create jobs. Help is here.”

But the new premier may find extricating Ontario from former Liberal premier Kathleen Wynne’s 2016 cap-and-trade accord with Quebec and California may be more complicated than issuing a simple cabinet edict.

Everything Doug Ford Has Cancelled So Far

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Ontario Premier-Elect Doug Ford Ditches Cap and Trade . June 20, 2018. Countries with Carbon Taxes See Higher Energy Prices .

Coal is responsible for 43% of carbon dioxide emissions from fuel combustion, 36% is produced by oil and 20% from natural gas .5. To create steel, iron is melted and refined to lower its carbon content.

Under cap-and-trade, businesses have greenhouse-gas-emission limits, or caps, and those who pollute less can sell, or trade, credits for these. Over time, an industry’s cap will be lowered to cut pollution. This is designed to create an economic incentive to curb emissions that change the world’s climate.

So far, Ontario businesses have purchased $2.9 billion in credits and it is unclear whether the Ford government will have to compensate them for those.

Leaving cap-and-trade will expose Queen’s Park to being forced into Prime Minister Justin Trudeau’s federal carbon-pricing scheme. That’s because under the cap-and-trade system, the province was exempted from the new national measure.

Ford has earmarked $30 million to fight Ottawa’s climate plan in court.

NDP Leader Andrea Horwath has warned the new Tory government is embarking upon a boondoggle that could cost Ontarians billions.

Ontario throne speech highlights campaign pledges .
Ontario throne speech highlights campaign pledgesThe speech, written by the premier's office and read by Lt. Gov. Elizabeth Dowdeswell at the Ontario legislature, sets out a road map for the new Progressive Conservative government's term.

Source: http://ca.pressfrom.com/news/money/-82003-doug-ford-aims-to-lower-gas-prices-by-ending-ontario-s-cap-and-trade-of-carbon-dioxide-emissions/

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