The liberals are going to bring in a huge new tax system based on the fear of climate change, when most people with a brain know this is not caused by humans, but by the sun. That will not stop these shameless liberals from cashing in on peoples fear and pocketing billions in the process. I doubt any of this money will be used for actual climate change, but will moe likely get lost in the land of waste and eventually end up in the pockets of liberal friends.
It is implementing a rushed, half-baked plan, just as it did with renewable energy.
It’s doing so without providing information the public needs to assess whether taxpayers are getting good value for money, just as it did with renewable energy.
Because, make no mistake, cap-and-trade will be paid for — just as the Liberals’ multi-billion-dollar renewable energy fiasco was paid for — out of the pockets of ordinary citizens.
Two Ontario auditors, first Jim McCarter and now Bonnie Lysyk, have repeatedly produced reports revealing the Liberals behaved ideologically, rather than logically, in pursuing wind and solar power.
As both auditors reported, they did so without doing a proper business plan, even ignoring advice from their own experts that could have saved Ontario taxpayers and hydro ratepayers billions of dollars on their electricity rates.
With Ontario’s scheduled entry into the North American carbon market next year, partnering with Quebec and California, they are doing the same thing again.
Last month that market crashed — just as the European carbon market crashed in 2008 — with Quebec and California getting only 11% of what they anticipated would be $700 million of revenue from selling carbon credits, which are the stock of cap-and-trade.
What is the Ontario government going to do if it gets only 11% of the $1.9 billion annually it predicts from carbon trading starting next year?
The Liberals have already made $1.2 billion in spending commitments from anticipated cap-and-trade revenues, even though they won’t start auctioning carbon credits to industrial emitters until March, 2017, nine months from now.
The Liberals, who took advice from Europe’s cap-and-trade market known as the Emissions Trading Scheme in setting up Ontario’s system, have made the same mistake the Europeans did.
They’ve given out far too many free carbon credits to industry — essentially free money that will be paid for by Ontario consumers and taxpayers.
Free carbon credits undermine the purpose of cap-and-trade, which is to set a price on industrial carbon dioxide emissions linked to climate change.
Simply put, there is extensive, real-world experience showing why cap-and-trade doesn’t lower industrial carbon dioxide emissions effectively or efficiently.
And yet the Liberals blunder on with their scheme that, if it goes bad, will make past Liberal financial disasters like eHealth, Ornge, green energy, smart meters, the cancelled gas plants and the Pan Am Games, seem like small potatoes by comparison.
Apparently, the Liberals have made up their minds and don’t want to be confused by facts.
Ontarians have already seen where that leads in the province’s experience with so-called green energy and skyrocketing electricity rates.
It leads straight to the poor house.
SATURDAY, JUNE 11, 2016 08:23 PM EDT Ottawa Sun Editorial