New Report Shows Stunning Results
The Fraser Institute has a new report, which alleges that the current national climate plan will not only cost billions but also do nothing to increase the quality of our environment.
As the institute notes, “Four provinces in Canada (Alberta, British Columbia, Ontario, and Quebec) have promulgated “action plans” to reduce greenhouse gas emissions. These plans have several broad components. There is a carbon pricing component; assortments of energy efficiency programs; there is a “renewable energy” component, and most of the plans have vehicle electrification components (or such programs have been enacted separately from the climate action plans).”
While governments have sold these plans as “revenue neutral,” the Fraser Institute alleges the opposite.
“Rather than obeying fundamental economic principles of true revenue neutrality, regulatory displacement, and allowing markets to find lower cost ways to reduce carbon, Canada’s carbon taxes are piled on top of regulations, are not revenue neutral, and subvert the functioning of energy markets by mandating particular technologies such as wind and solar power, and electric vehicles.”
The report goes on to point out that promises of expanding renewable energy – which are a staple of most climate plans – have turned out to be disasters, particularly in Ontario:
“Ontario’s renewable expansion has come at a stunningly high cost, with electricity prices in Ontario having risen by 71 percent from 2008 to 2016, over twice the average growth in electricity prices elsewhere in Canada. From 2008 to 2015, electricity prices also increased two-and-a-half times faster than household disposable income in Ontario. The growth in electricity prices was almost four times greater than inflation and over four-and-a-half times the growth of Ontario’s economy (real GDP).”
Context: The federal government has instituted a minimum carbon price.
Carbon Price: what is a carbon tax about? Essentially, it is about changing people’s behaviors in ways that drive them away from activities that produce greenhouse gas emissions, activities that are, overwhelmingly, related to how we consume energy.
Manitoba Fights back: Manitoba has fought the federal government the most announcing lower minimums than the present federal limit.