An Open Letter from Economists on Canadian Carbon Pricing
2024-03-28
As economists from across Canada, we are concerned about the significant threats from climate change. We encourage governments to use economically sensible policies to reduce emissions at a low cost, address Canadians’ affordability concerns, maintain business competitiveness, and support Canada’s transition to a low-carbon economy. Canada’s carbon-pricing policies do all those things.
There is plenty of discussion about carbon pricing in Canada today. Healthy public debate is good, but it should be based on sound evidence and facts. Let’s examine some of the claims made by critics of carbon pricing and compare them with what the evidence shows.
3 comments
Ecofiscal is a great initiative. We need thought leaders who seek wisdom on the critical relationship of economy and ecology. Alberta ought to lead in designing and elevating the positive outcomes beyond potential into practical applied reality.
Alberta’s fatal failures are obsolete building standards and basing an economy entirely on fossil fueled transportation ,not recognizing electricity based transport is fundamentally much more efficient. Using electricity in a first generation electric car produces about 1/2 the GHG emissions of a similar sized gasoline powered car, even with Alberta’s carbon intensive grid when the added footprint of oil sand extraction is factored in. Using natural gas for onsite co-generation with the resulting “waste” heat applied to building loads results in EV fuel cost of about 2 cents/km with free building heat.
My biggest takeaway from the event was the recognition given to the fact that businesses and individuals have to come to grips with the realities of a “carbon constrained world”.
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