Chinese Carbon Tax System Could Force Canada To Act
Chinese Finance Ministry this week announced that the Beijing government will adopt a tax system on all the products that emit carbon. This is likely to insist on Canada to follow suit, according to experts.
“As the rest of the world starts to put a price on carbon, any Canadian exporter is going to have start paying that price regardless of where it is located,” Global News quoted Laval University economics professor Stephen Gordon, as saying.
Canada last year gave green signal to the handover of the Calgary based global oil and gas company Nexen to the Chinese state owned CNOOC.
The U.S. is Canada’s largest trade partner and China last year replaced the U.K. as Canada’s number two trade export destination. In 2012 alone, China imported Canadian goods worth more than US $19 billion.
“If Canadian exporters are already paying for it why not send that tax revenue to Ottawa instead of Washington or Beijing,” said Stephen Gordon.
Obama, during his State of Union Speech, expressed his commitment to reduce the carbon emission and U.S. ambassador to Canada David Jacobson urged the Canadian federal government to take note of the speech.
“Canadians have not been well-represented by our government on action on climate change. Fortunately for Canadians, though, the Harper Conservatives will have little choice but to follow suit or risk our trading relationship with our biggest partner,” 1310 News had quoted Megan Leslie, a spokesperson of the Canadian National Democratic Party as saying.
Canadian Natural Resource Minister Joe Oliver said that the Stephen Harper’s government was already halfway to achieve the target of reducing green house gas emissions by 17% by 2020.
“Under our leadership, Canada is already halfway towards achieving that goal,” Oliver had said in a statement.
“The Harper government will continue to focus on job creation, economic growth and long-term prosperity, while protecting the environment. Our plan is working.”
However, according to Global News, the Liberal Environment Critic Kirsty Duncan expressed her disappointment with the federal government in terms of carbon cut policy.
“China gets it. The U.S. gets it and I’m not sure why the Harper Conservatives don’t get it or understand the urgent action that it is needed to take serious measures to combat climate change,” she said.
In 2010, during a United Nations Climate Conference, 200 countries pledged to control the carbon production to below 2 degrees Celsius or 3.6 degrees Fahrenheit.
“As the rest of the world starts to put a price on carbon, any Canadian exporter is going to have start paying that price regardless of where it is located,” Global News quoted Laval University economics professor Stephen Gordon, as saying.
Canada last year gave green signal to the handover of the Calgary based global oil and gas company Nexen to the Chinese state owned CNOOC.
The U.S. is Canada’s largest trade partner and China last year replaced the U.K. as Canada’s number two trade export destination. In 2012 alone, China imported Canadian goods worth more than US $19 billion.
“If Canadian exporters are already paying for it why not send that tax revenue to Ottawa instead of Washington or Beijing,” said Stephen Gordon.
Obama, during his State of Union Speech, expressed his commitment to reduce the carbon emission and U.S. ambassador to Canada David Jacobson urged the Canadian federal government to take note of the speech.
“Canadians have not been well-represented by our government on action on climate change. Fortunately for Canadians, though, the Harper Conservatives will have little choice but to follow suit or risk our trading relationship with our biggest partner,” 1310 News had quoted Megan Leslie, a spokesperson of the Canadian National Democratic Party as saying.
Canadian Natural Resource Minister Joe Oliver said that the Stephen Harper’s government was already halfway to achieve the target of reducing green house gas emissions by 17% by 2020.
“Under our leadership, Canada is already halfway towards achieving that goal,” Oliver had said in a statement.
“The Harper government will continue to focus on job creation, economic growth and long-term prosperity, while protecting the environment. Our plan is working.”
However, according to Global News, the Liberal Environment Critic Kirsty Duncan expressed her disappointment with the federal government in terms of carbon cut policy.
“China gets it. The U.S. gets it and I’m not sure why the Harper Conservatives don’t get it or understand the urgent action that it is needed to take serious measures to combat climate change,” she said.
In 2010, during a United Nations Climate Conference, 200 countries pledged to control the carbon production to below 2 degrees Celsius or 3.6 degrees Fahrenheit.
You can return to the main Market News page, or press the Back button on your browser.
