Carbon Taxes Pound Canada Economy

 

Canadian Inflation Jumps As Carbon Taxes Come Into Force

Globe and Mail:
Canadian inflation spiked to its highest rate in more than two years in January, as new carbon taxes in Alberta and Ontario fuelled a surge in gasoline prices.

Statistics Canada reported that the consumer price index was up 2.1 per cent year over year in January, the fastest pace since October, 2014, and up sharply from 1.5 per cent in December. It said gasoline prices were up 20.6 per cent from a year earlier, the biggest increase since September, 2011. The increase reflected the introduction of a carbon tax in Alberta and a cap-and-trade carbon pricing system in Ontario, both of which came into effect on Jan. 1, as well as higher crude-oil prices, which lifted fuel costs nationwide.

From StatsCan April Report:

Transportation costs rose 4.2% over the 12-month period ending in April, after increasing 4.6% in March. This deceleration was led by the purchase of passenger vehicles index, which rose less on a year-over-year basis in April than in March. Gasoline prices posted a 15.9% year-over-year increase in April, slightly larger than the 15.2% rise registered in March.

Losses persist in oil and gas

The oil and gas extraction industry reported an operating loss of $2.2 billion in the fourth quarter, down from the $3.3 billion loss in the third quarter. This was the eighth consecutive quarterly loss for the oil and gas extraction industry.

And that is just for starters.

Get ready for Trudeau’s carbon tax on everything

Toronto Sun, May 19, 2017:
The Trudeau Liberals are moving forward with their national carbon tax scheme, or, what Saskatchewan Premier Brad Wall calls “one of the largest tax increases in Canadian history.”

In typical governing fashion, the Liberals are trying to downplay the devastating economic consequences of the tax. They’re trying to disguise the very fact that this is a tax hike.

It’s not a carbon tax, it’s a “behaviour-changing measure,” said one government official.

His plan will force the provinces to tax each tonne of carbon emitted, as well as to hike taxes on gasoline by at least 11 cents per litre. Keep in mind that taxes on gasoline already make up 36% of the existing price at the pump.

That isn’t enough for our tax-hungry government, so they want to impose a 25% tax hike on fuel.

The whole scheme is designed to subsidize so-called clean energy.

But compared to the world’s largest sources of carbon emissions, places that coincidentally have the lowest environmental standards – China, Russia, India – Canada’s entire economy would be considered “clean energy.”

Next to the world’s biggest emitters, we’re an environmental marvel.

Despite being an advanced and developed country, and having some of the world’s largest proven oil reserves, Canada only makes up 1.6% of global emissions.

Any reductions in Canadian emissions caused by the Trudeau tax grab will immediately be erased by China’s booming coal industry and its refusal to impose the kind of job-killing carbon tax schemes being sold by the Trudeau Liberals.

There will be no positive impact on the environment, but the effect on our pocketbook will be concrete and measurable.

Figures vary by household and province, but by 2022, it’s estimated the average Canadian family will face a carbon tax bill of about $2,500 per year.

There’s a reason a carbon tax is called ‘a tax on everything.’

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One comment

  1. Climatism · May 22

    Reblogged this on Climatism and commented:
    “Any reductions in Canadian emissions caused by the Trudeau tax grab will immediately be erased by China’s booming coal industry and its refusal to impose the kind of job-killing carbon tax schemes being sold by the Trudeau Liberals.

    There will be no positive impact on the environment, but the effect on our pocketbook will be concrete and measurable.”

    Groundhog Day for the virtue-signalling climate elites. Australia tried the “Carbon Tax”. It didn’t change the weather, simply shifted “emissions” (jobs) to China. Welcome to hell Canada 🇨🇦

    Liked by 1 person

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