The Trudeau Governments approach makes pollution a commodity through credits and offsets that allow for financial corporations to profit from polluting industries
As James Wilt noted in a Briarpatch article, carbon pricing doesn’t regulate emissions, it just puts a price on them based on an arbitrary calculation, the “social cost of carbon,” that tends to ignore the “externalities” – the cumulative emissions, feedback loops, and disproportionate impacts of climate change on countries in the Global South. These are not encompassed in corporate cost-benefit analysis. For business, they are just a cost of doing business.
Wilt describes the carbon tax as “a deeply neoliberal and individualistic” approach that “often excludes or minimizes impacts on fossil fuel corporations while downloading moral and financial responsibility on households that burn fossil fuels for transportation or heating. Perhaps most concerning of all is the way it serves to create resentment for – and siphon energy from – far more ambitious climate policy that would rapidly cut emissions, guarantee jobs, and improve public services for all.”
However, Canadian authorities, far from passively relying on market mechanisms, are quite capable of aggressive action to implement their goals where these are integral to their strategic profit and growth concerns. Missing from the Pan-Canadian Framework is the other, more important component of the Trudeau government’s climate approach: promoting further oil and gas exploitation and export, especially through building pipeline and rail capacity. This endeavour totally conflicts with its carbon-reduction promises. MORE