The Ontario government’s cap and trade scheme is already a failure, and it hasn’t even started yet.
On Wednesday November 30, the Auditor General released her annual report, in which she slammed the Ontario government’s cap and trade tax, which is set to take effect January 1st.
Auditor - General - Zeroed - Series - Flaws
The Auditor General zeroed in on a series of major flaws with cap and trade—the premier’s showpiece legislation. She highlighted the policy’s inability to achieve emission reduction targets, that cap and trade would send billions out of the province, and that there is a total lack of transparency.
The first piece of criticism is significant: the plan won’t achieve anything for Ontario. The Auditor General found that cap and trade will result in only a small fraction of the Ontario government’s emission reduction target being achieved within our borders.
Premier - Wynne - Goal - Emissions - Cent
Premier Wynne has an goal of reducing 2020 emissions by 15 per cent from 1990 levels. An ambitious goal. Perhaps too ambitious, since the Auditor General found that with cap and trade, less than 20 per cent of reductions needed to meet that target will actually be achieved in Ontario.
Yet, Wynne is claiming political credit for emission reductions in California and Quebec, and counting those reductions towards her goal, because she linked the province into a “carbon market.”
Ontario - Emission - Reduction - Borders - Nothing
Even if Ontario were to achieve the entire emission reduction within our borders, it would do almost nothing in the grand scheme of things, since Canada makes up only about 1.65 per cent of global emissions, and Ontario represents only a tiny fraction of that. But with only a small portion of the reduction taking place within the province, Ontario won’t even get the marginal benefit of improved air quality. That benefit will be felt in California and Quebec.
If the emission reduction is the goal of the legislation, and that goal...
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