Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Canada’s Prime Minister Justin Trudeau said Monday that his government will establish a “floor price” on carbon pollution of $10 a tonne in 2018, rising to $50 a tonne by 2022.
During a debate in the House of Commons on whether Canada should ratify the Paris accord on climate change and cut greenhouse gas emissions by 30% from 2005 levels by 2030, Trudeau said provinces and territories will have the option of either establishing a carbon tax or implementing a cap-and-trade system “stringent enough” to meet or exceed the federal target.
The PM also stated that given the case that a province or territory doesn’t have either a carbon price or a cap-and-trade system in place by 2018, “the government of Canada will implement a price in that jurisdiction.”
In spite of the centralized decision, he stated that its outcomes would be revenue neutral for the federal government. This means that each province and territory would benefit directly from any revenues generated under the system.
Trudeau also said that the plan should keep and/or create billions of dollars and hundreds of well-paying jobs.
Comments
dutchmann64
We are screwed;……Trudeau, Wynn and company are clearly taking us to the cleaners. They base their policies on fluffy hear-say thoughts rather than actual fact based science. This guy ( and his pseudo mommy ) bend over at every opportunity. ” Lets cap our emissions but increase trade with CHINA. While our emissions amount to a drip on the edge of a tea cup compared to third world nations and China. Anything we do will not make one bit of difference to the resoulution of the problem. Hey while we’re at it let’s hand Russia the keys and give them our artic. They are self impressed sociopaths;……our day has come and gone. Our children’s children will be paying the price of this.
We should be rioting in the streets. UGH!