Regina-Qu’Appelle MP Andrew Scheer (Conservative) came to Sudbury to deliver more economic and environmental nonsense on Nov. 2.
As an economist, I really have to respond.
Scheer is pretending he doesn't know two important facts about the carbon tax:
- Economists have proven it is the most efficient way to cut emissions. Any other scheme the Conservatives can come top with will do more economic damage.
- Canadians get the money they pay in carbon fees back. The tax moves money from your front pocket to your back pocket. Cut the tax and you just get less back. How does that make you better off?
If Mr. Scheer wants a policy that will help Canadians, he shouldn't be attacking a program that gives back money to Canadians. He should be asking to expand the carbon tax.
The oil and gas extraction industry is responsible for 28 per cent of Canadian greenhouse gas emissions. They pay among the lowest average carbon costs of any sector. Full taxation for the fossil fuel industry would multiply the money Canadians get back by five.
Why doesn't Scheer, the MP from oil-producing Saskatchewan, support full carbon taxation? I think it is because it would hurt fossil fuel profits. Canadian oil sands companies alone reported $34.7 billion in profits in 2022. After taxes.
As an economist, I don't like the recent Trudeau government exemption for heating oil. It would be better to collect the full tax on heating oil and to give a bit more back to people who are using heating oil. Helping people with special hardships is a good idea. Inconsistent pricing is bad economic policy.
Backing off the most effective way to fight global warming, as Sheer suggests, is just lunacy.
David Robinson is an economist in Sudbury.
