It’s time for Canada to reassess its climate policy

The federal government recently unveiled its new national carbon pricing scheme, calling it a “backstop.” Under the backstop plan, provinces are given until 2018 to create their own carbon pricing system or Ottawa will impose its own.The model that the federal government proposes the provinces adopt is a hybrid system composed of two instruments—a carbon levy charged on fuels and an emissions credit trading system for major industries. The plan involves starting the carbon levy at a floor price of $10 per tonne of emissions in 2018, rising to $50 per tonne by 2022. Given the current circumstances, however, it

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