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Canadian Natural Resources Ltd
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Close 2019-10-30 C$ 33.54
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Globe says Suncor, rivals see new carbon tax unveiled

2019-10-31 08:04 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Thursday, Oct. 31, edition that Ottawa will decide by year's end whether Alberta and Ontario can apply their own carbon-pricing plans to industrial emitters. A triple bylined item in The Globe reports that the two provinces are pitching carbon taxes that some critics say fall short of Ottawa's system. Alberta Premier Jason Kenney unveiled a climate strategy on Tuesday to levy a $30-a-tonne carbon tax on heavy emitters starting on Jan. 1, 2020. If Ottawa accepts it, Alberta's carbon tax would eventually cover nearly two-thirds of emissions in the province, which is Canada's largest emitter of greenhouse gases. Ottawa has said it will review Alberta's system to see if it complies with the federal requirements. Environment Minister Catherine McKenna's spokesman Caroline Theriault said the review of the Alberta and Ontario systems would happen later this fall. If Ottawa concludes Alberta's does not fit the national requirements, Ms. Theriault said, the federal industrial carbon tax, called an output-based pricing system, would take effect on Jan. 1. That is the date the federal carbon tax covering consumers is to take effect in Alberta. Both taxes are already in effect in Ontario.

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