Lakehead University Political Science Professor Laure Paquette believes we will feel the effects of Ontario’s cap and trade regulations.
The new provincial system started New Years Day.
Paquette says northerners will see the impact on their Union Gas bills and at the gas pump.
She says the gas hike could be as high as 7-cents per litre, while natural gas and oil heating costs may go up $13 a month.
However, Paquette notes the cap-and-trade plan will be a huge money maker for the provincial government.
Paquette predicts the Liberals will bring in $2-billion in annual income.
She points out there will be some international market volatility, so the exact amount isn’t known.
Paquette says one problem with the new system is that there are few restrictions on how the province can spend the revenue they generate from it.
She adds another issue is that because we’re in a market with California and Quebec, we may end up subsidizing them based on market swings.
Cap and trade may bring in 1.9B, but Green Investment Fund is #325M. Rest goes in ON’s pocket, helping #Wynne balance budget. #onpoli
— Laure Paquette (@lpaquett) December 28, 2016
