To what extent should Canada harmonize its carbon policy approach with the United States? Read on.
The differences between the two countries’ approaches to carbon are startling. Canada is relying on carbon pricing that is expected to rise to $170 per tonne by 2030. The U.S. has no national carbon price. Nor is it expected to have one soon, especially if the Republicans win control of at least the House of Representatives. The state-level cap-and-trade systems that have been established cover roughly 15 per cent of U.S. fossil fuel consumption. But prices are low.
There are also consumer credits for new or used electric cars, plug-in hybrids and hydrogen-fueled vehicles. There’s a dollar-per-gallon credit for low-carbon fuel. There are another 38 listed subsidies, but you get the picture: Uncle Sam is raiding the till to reduce emissions. It’s almost as if whatever lobbyists could think up legislators enacted.Article content
The difference between the American and Canadian approaches to carbon capture, utilization and storage is particularly striking. The U.S. is providing a generous production credit for both sequestration and utilization, including enhanced oil recovery . In comparison, Canadian incentives for CCUS are smaller, averaging roughly a 50 per cent credit based on investment cost but not production costs.
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