FRASER INSTITUTE: Climate Plans Will Cost Provinces Billions, While Doing Almost Nothing For The Environment

Another fraud perpetrated by our failed “leaders.”

The Fraser Institute has a new report, which confirms what many of us knew instinctively: The climate plans being sold to us by provincial politicians (and forced by Trudeau on the national level) will cost billions of dollars, while doing almost nothing for the environment.

As the institute notes, “Four provinces in Canada (Alberta, British Columbia, Ontario, and Quebec) have promulgated “action plans” to reduce greenhouse gas emissions. These plans have several broad components. There is a carbon pricing component; there are assortments of energy efficiency programs; there is a “renewable energy” component; and most of the plans have vehicle electrification components (or such programs have been enacted separately from the climate action plans).”

While governments have sold these plans as “revenue neutral,” and say they will create growth in other ways, the Fraser Institute report refutes that:

“Rather than obeying fundamental economic principles of true revenue neutrality, regulatory displacement, and allowing markets to find lower cost ways to reduce carbon, Canada’s carbon taxes are piled on top of regulations, are not revenue neutral, and subvert the functioning of energy markets by mandating particular technologies such as wind and solar power, and electric vehicles.”

The report goes on to point out that promises of expanding renewable energy – which are a staple of most climate plans – have turned out to be disasters, particularly in Ontario:

“Ontario’s renewable expansion has come at a stunningly high cost, with electricity prices in Ontario having risen by 71 percent from 2008 to 2016, over twice the average growth in electricity prices elsewhere in Canada. From 2008 to 2015, electricity prices also increased two-and-a-half times faster than household disposable income in Ontario. The growth in electricity prices was almost four times greater than inflation and over four-and-a-half times the growth of Ontario’s economy (real GDP).”

Concerningly, the terrible Ontario climate plan was authored in large part by those who are now influencing federal policy, so we can look at the Ontario experience – massive debt, huge energy price increases, total waste and failure – and see what Trudeau has in mind for Canada.

Taxpayers ripped off again

As usual, politicians and elites never pay the price of failed policies. Instead, they’ll use those policies to virtue-signal about how much they “care” for the environment, while Canadian taxpayers get screwed.

The Fraser Institute report makes it clear what a fraud these climate plans are, as they will accomplish nothing except making life more expensive and taking more money out of our pockets.

Frankly, the Fraser Institute is being too nice in their report, as they seem to believe a carbon tax could work if implemented correctly. Of course, that gives way too much credit to our failed leaders, when the real solution is to cut taxes, reduce regulations, and create a competitive economy that leads to more innovation, prosperity, and advancement.

Still, the report is a big help for all of us who want to cut through the BS, and show how our governments are deceiving the people when it comes to “climate action.”

Read the full Fraser Institute report here

Spencer Fernando

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