Premier-Elect Doug Ford is following through on an election promise to repeal cap and trade , Ontario’s mechanism to put a price on provincial carbon emissions. The repeal of cap and trade legislation will be the first step taken by his Government once sworn in to office.
“The carbon tax’s days are numbered,” Ford announced Friday. “I promised that we would make life more affordable in Ontario.
The important question is: if no effective action is taken to limit climate change, for how long will living in Ontario (or in other places in Canada) continue to be affordable?
If unchecked, Global warming will increase the risk of severe weather conditions, leading to more frequent and more severe forest fires, drought, floods, windstorms, ice and hail storms, heat waves, sea level rise. etc. etc.
The Insurance Bureau of Canada, projects that the damages caused by these events will increase. Assuming other Provincial Governments follow the Ontario example and Canada abandons an effective move to a low carbon economy, the compensation to make these losses good is impossible to predict.
And who is going to come up with the money?
- The Federal Government ? whose efforts to reduce the risks of global warming are being undermined.
- “Populist politicians” who are skilled in using the mantra of lower taxes to get elected?
- Our Grandchildren who are the tax payers of the future? And will have to shell out for a good percentage of these losses?.
It is not likely we will have any response to these questions before the next Provincial election.
P.S. To demonstrate how quickly climate change could reach serious levels, consider this : CO2 – which is the main contributor to 21st Century climate change – has increased from 404.84 ppm in 2015 to a record level of 412.63 ppm for one day in April, 2017.