Canadian opposition, oil CEOs call for scrapping federal carbon price system

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Canadian opposition, oil CEOs call for scrapping federal carbon price system

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Canadian opposition, oil CEOs call for scrapping federal carbon price system

//stocks-investing.news-articles.net/content/202 .. l-for-scrapping-federal-carbon-price-system.html

Published in Stocks and Investing on Saturday, March 22nd 2025 at 5:21 GMT by Reuters

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

Conservative Leader Pierre Poilievre made the federal carbon system a potential ballot issue on Monday, pledging to repeal it if he wins an election expected on April 28. The system, in place since 2019, aims to reduce pollution by giving heavy industry a financial incentive to cut carbon emissions.

2025-03-22 164 x 110 / 2979 Bytes

The article from MSN discusses the opposition to Canada's federal carbon pricing system by both the Canadian opposition parties and oil industry CEOs. Conservative Leader Pierre Poilievre has been vocal in his criticism, arguing that the carbon tax increases costs for Canadians without effectively reducing emissions. Similarly, oil executives, including those from Cenovus Energy and Imperial Oil, have expressed skepticism about the carbon pricing mechanism's effectiveness in curbing emissions, suggesting it might be more of a financial burden than an environmental solution. They advocate for alternative approaches like carbon capture and storage technology. This pushback comes amidst a backdrop of increasing public and political debate over how best to address climate change while maintaining economic stability.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/politics/government/canadian-opposition-oil-ceos-call-for-scrapping-federal-carbon-price-system/ar-AA1Bp2Ib ]

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Canadian opposition, oil CEOs call for scrapping federal carbon price system