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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

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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

Ontario Premier Doug Ford officially announced plans Tuesday to end the province' s cap - and - trade program, drawing scorn from the federal government which may soon implement its own carbon tax in the province.

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 premier-designate Doug Ford has vowed that his first act in the legislature will be to scrap the province' s cap - and - trade program. PCs to give notice of Ontario ' s withdrawal from joint carbon pricing market with Quebec, California.

Doug Ford aims to lower gas prices by ending Ontario ’ s cap - and - trade of carbon dioxide emissions . The setback is leading to 'a major gap' in the government ’ s plan to reduce carbon emission by at least 80 per cent by 2050. Companies .

“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.”

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Premier is abandoning Ontario ' s measures for reducing greenhouse gases in favour of cheaper gasoline . Read more Published 5 days ago by TORONTO STAR (Canada) Categories: Business/Industry/Energy/Fuel Power.

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 Environmental Assessment Agency released in 2015.

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.

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Decision to end program to reduce greenhouse gas emissions puts Ontario in line for showdown with federal government.

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.

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.

Hydro One Continues to Slide as the Company Faces a Lot of Uncertainty Under the New Government .
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