Carbon Tax Arrives in British Columbia

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Market Movers

by Ryan Avent

Main

Zimbabwe Datapoint of the Day Crowds: Stupid

Feb 21 2008 4:11PM EST

Many congratulations to British Columbia and its finance minister Carole Taylor, who has introduced a revenue-neutral carbon tax. The sums involved are not insignificant: The carbon tax will start at a rate based on $10 per tonne of carbon emissions and rise $5 a year to $30 per tonne by 2012. Even so, the effect on gasoline prices is small. It's 2.4 Canadian cents per litre at the beginning, rising to 7.2 Canadian cents per litre at the end: that's the equivalent of 8.9 US cents per gallon at the beginning and 26.8 US cents per gallon at the end. No wonder "most drivers at a Vancouver downtown gas station told CBC News they're not opposed to the higher price for gasoline when they can contribute to saving the Earth."

(Via Carbon Tax Center)

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