Dan Markind says “we need as a society to decide what our future energy mix will be, not by judicial fiat” or flinging wild assertions toxic to civil debate.
For the second time in two months, a lead energy story comes from Canada.
On Monday, newly elected Ontario Premier (Governor) Doug Ford announced that he immediately would dismantle Ontario’s carbon cap and trade system. Mr. Ford gave no specifics, but his announcement put $2.9B (Canadian) in carbon tradable allowances in limbo. Already California, which was integrating its system with Ontario’s, announced it would no longer accept or trade Ontario carbon credits. Quebec stopped as well.
Cap and trade is an attempt to find a quasi-free market solution to environmental externalities. There are many variations of these systems, but in Ontario companies that emit at least 250,000 tons of greenhouse gasses per year have to purchase an equal amount of “allowances.” The allowances were made available at quarterly auctions and could be purchased on the free market, hence the integration with California and Quebec.