An Open Letter from Economists on Canadian Carbon Pricing

[blackpowder]

"On the contrary a green economy will attract investment and innovation."
I feel you have that backwards.
Demand attracts investment and innovation. If the demand is solely tax driven, it is artificial and not self sustainable. A closed loop. Supposedly, most tax dollars are going back to the people anyway?
At any rate, are you aware of the serious drop in foreign investment dollars in Canada?

[fjlip]

Plus Canada has weak productivity, an actual emergency…Bank of Canada

[chuckChuck]

Critics’ Claim #4: Carbon pricing harms Canadian business competitiveness.
What the evidence shows: Canada’s carbon-pricing scheme is designed to help businesses reduce emissions at low cost, while competing in the emerging low-carbon global economy.
For large emitting sectors in most provinces—like oil, steel and cement—there is an “output-based” carbon pricing system. In effect, it means most large industries pay the carbon price only on the last 10-20 percent of their emissions. The lower-emitting firms pay less while higher-emitting firms pay more—creating a strong incentive for all firms to reduce emissions.
The output-based system is designed to maintain industries’ competitiveness: ensuring that the carbon price does not hamper their ability to stay profitable and generate jobs in Canada while competing internationally.
In addition, carbon pricing stimulates innovation by encouraging the development and adoption of low-carbon technologies. These incentives help Canadian businesses—in all sectors—stay competitive in the global transition to a low-carbon economy.
Critics’ Claim #5: Carbon pricing isn’t necessary.
What the evidence shows: Here the critics are right. Canada could abandon carbon pricing and still hit our climate targets by using other types of regulations and subsidies—but it would be much more costly to do so.
Unfortunately, the most vocal opponents of carbon pricing are not offering alternative policies to reduce emissions and meet our climate goals. And they certainly aren’t offering any alternatives that would reduce emissions at the same low cost as carbon pricing. ?

[chuckChuck]

"The sharp increase in inflation between 2021 and 2023 was caused by several factors, mainly related to the COVID-19 pandemic (disrupted supply chains, rapid growth in the money supply, and pent-up demand), and the impact of the Russia-Ukraine war on commodity prices. These forces are global, which is why most advanced countries—whether or not they have a carbon price—experienced very similar inflation. According to the Bank of Canada, carbon pricing has caused less than 1/20th of Canada’s inflation in the past two years.?"

[chuckChuck]

Critics’ Claim #1: Carbon pricing won’t reduce GHG emissions.
What the evidence shows: Not only does carbon pricing reduce emissions, but it does so at a lower cost than other approaches.
Since federal carbon pricing took effect in 2019, Canada’s GHG emissions have fallen by almost 8 percent, although other policies were also at work. A new report from the Canadian Climate Institute shows that federal and provincial carbon pricing, for industries and consumers, is expected to account for almost half of Canada’s emissions reductions by 2030.

The reason carbon pricing works is simple: when something costs more (in this case fossil fuels), people use less of it. That is basic economics, and common sense.
Carbon pricing is the lowest cost approach because it gives each person and business the flexibility to choose the best way to reduce their carbon footprint. Other methods, such as direct regulations, tend to be more intrusive and inflexible, and cost more.
That is not to say that carbon pricing should be Canada’s only climate policy. Other complementary policies are also needed. But the more we use the lowest-cost policies to achieve our climate goals, the more resources will be available for other important things—like health care, education and other social programs.?

[Hamloc]

Critics’ Claim #1: Carbon pricing won’t reduce GHG emissions.
What the evidence shows: Not only does carbon pricing reduce emissions, but it does so at a lower cost than other approaches.
Since federal carbon pricing took effect in 2019, Canada’s GHG emissions have fallen by almost 8 percent, although other policies were also at work. A new report from the Canadian Climate Institute shows that federal and provincial carbon pricing, for industries and consumers, is expected to account for almost half of Canada’s emissions reductions by 2030.

The reason carbon pricing works is simple: when something costs more (in this case fossil fuels), people use less of it. That is basic economics, and common sense.
Carbon pricing is the lowest cost approach because it gives each person and business the flexibility to choose the best way to reduce their carbon footprint. Other methods, such as direct regulations, tend to be more intrusive and inflexible, and cost more.
That is not to say that carbon pricing should be Canada’s only climate policy. Other complementary policies are also needed. But the more we use the lowest-cost policies to achieve our climate goals, the more resources will be available for other important things—like health care, education and other social programs.?

This is such a load of crap. The carbon tax has not in any way changed the choices made by heavy haulers because there are no alternatives to hauling my grain and cattle to market than a diesel powered truck. A hydrogen powered truck at present costs 4 times as much. As for heating my house or my shop, even with Justin Trudeau’s punitive carbon tax there is still no lower cost and practical alternative to natural gas.

Leaves more resources for healthcare, education and social programs?! What a load of BS. Justin Trudeau has more than doubled the national debt with his policies, more than doubling interest payments on the debt and reducing the money available for government programs. As well there are no royalties collected by government on renewable energy production, there are royalties collected on resource production. The only government that benefits from renewable energy is China’s!!!

[Hamloc]

As for lowering emissions, the Canadian Climate institute said C02 emissions from 2021 to 2022 increased by 15 million tonnes or by 2.23%!!!

[chuckChuck]

How do you know Hamloc whats going on across the whole trucking and transportation industry across Canada?

I have seen many delivery vehicles get changed to smaller more appropriately sized fuel efficient vehicles to save money.

I have also watched truckers start to turn off their trucks instead of idling while loading.

A small change to be sure.

But transport manufacturers are looking at all kinds of efficiency gains and options for low carbon technology.

You can a get a huge efficiency gain just from moving more long distance freight off the roads and back on to the rails.

[chuckChuck]

Here is some more evidence Hamloc!

Because it's BS to say nothing can be done to lower emissions in heavy trucking!

Diesel Tech Industries Ltd. and Creative Truck Performance Ltd. Join Forces to Propel Decarbonization in Saskatchewan's Class 8 Fleets

Jan 31, 2024

Regina, SK – Diesel Tech Industries Ltd. (DTI) and Creative Truck Performance Ltd. (CTP) proudly announce a strategic partnership aimed at advancing the decarbonization efforts within the class 8 fleets of Saskatchewan. The collaboration introduces the Guardian Hydrogen Diesel System, a cutting-edge technology designed to enhance efficiency and reduce emissions in heavy-duty trucking.

Creative Truck Performance Ltd., a locally owned Bulk Fuel Transportation and Truck Repair Shop company based in Regina, Saskatchewan, providing exceptional career opportunities, growth prospects, and a supportive work-life balance. Comprising a team of 2 product experts/trainers, 14 drivers, 3 technicians, and additional support staff, CTP is dedicated to fostering a healthy and inclusive environment for its employees.

"We are extremely excited to be working with DTI and to have the first conventional chassis truck that can utilize Hydrogen. This project is going to be extremely beneficial for the future of trucking companies in Saskatchewan in all applications" said Evan Grant, Owner.

The Guardian Hydrogen Diesel System, developed by Diesel Tech Industries Ltd., enables the integration of hydrogen as a secondary fuel source in existing diesel engines. This innovative approach not only minimizes greenhouse gas emissions but also ensures cost-effectiveness for fleet operators. The partnership between DTI and CTP signifies a joint commitment to driving positive change in the trucking industry.

"As we embark on this journey with Creative Truck Performance, we are confident that our Guardian Hydrogen Diesel System will play a pivotal role in elevating the efficiency and sustainability of class 8 fleets in Saskatchewan. Together, we are setting new standards for innovation and environmental responsibility," stated Rebecca Goldsack, COO.

The Alberta Motor Transportation Association (AMTA) and Saskatchewan Trucking Association (STA) have contributed a strong collaborative partnership with DTI and CTP, contributing significantly to the development of an innovative ecosystem for hydrogen and trucking.

This collaboration is more than a business endeavor; it's a joint venture fueled by a shared commitment to drive positive change. Together, we look forward to the tangible impact the Guardian Hydrogen Diesel System will have on reducing emissions, setting a new benchmark for environmental responsibility in Saskatchewan's Class 8 fleets.
?
[url]https://sasktrucking.com/news/diesel-tech-industries-ltd-and-creative-truck-performance-ltd-join-forces-to-propel-decarbonization-in-saskatchewan-s-class-8-fleets[/url]
?

[chuckChuck]

As for lowering emissions, the Canadian Climate institute said C02 emissions from 2021 to 2022 increased by 15 million tonnes or by 2.23%!!!

No shit Hamloc! Did you forget about the economy getting going again because of covid restrictions starting to come off?

If you are going to come up with this kind of bullshit that is easily shot down just give up man!