Why are Canada’s oil patch CEOs changing their minds on carbon pricing?

Chris Turner, The Globe and Mail, December 4, 2018

If you’re used to hearing greenhouse gas pricing programs described as a “job-killing carbon tax," then it might surprise you to discover that the Business Council of Canada, whose members provide almost two million Canadians with jobs, was unqualified in its support for the federal government’s carbon price backstop when it was unveiled in October. “For many years,” the council announced in a press release, “we have advocated for carbon pricing as the most efficient means to contribute to achieving Canada’s climate change goals.”

Like many supporters of carbon pricing, the Business Council doesn't pick a favourite between the two most common approaches in Canada—a straight carbon tax like British Columbia's, which levies a flat rate by the tonne to all carbon dioxide emissions; or a cap-and-trade system like the one Quebec has joined. The Business Council simply accepts the argument made by many energy economists that putting a price on carbon is the most efficient first step in reducing emissions.


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