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BC Carbon Tax Works

Canadian tool against greenhouse gasses may work for America.

A carbon tax launched in British Columbia eight years ago is viewed as a Canadian success story, according to the New York Times.

"British Columbia’s economy did not collapse. In fact, the provincial economy grew faster than its neighbors’ even as its greenhouse gas emissions declined," the newspaper reported.

In fact, the carbon tax has garnered growing support. "Last year only 32 percent of British Columbians opposed the tax, down from 47 percent in 2009," the article said.

In large part, that is because the tax has been implemented fairly.

The Times reported:

"All in all, the government will return about 1.7 billion Canadian dollars to businesses and families this year, more than the 1.2 billion dollars it expects to collect though the carbon tax, which amounts to roughly 5 percent of the province’s total tax revenue.According to the World Bank, about 12 percent of the world’s global emissions of greenhouse gases are subject to a carbon price — either a tax or, more commonly, a levy under a regime of cap and trade like that in California and Europe, in which permits to emit are auctioned among companies."

EDITOR'S NOTE: Policies to combat climate change will be fully explored in The Energy Times' new executive conference, "The California Renewables Rush" in San Francisco on April 6.

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