OTTAWA — A get-tough strategy to combat global warming could produce multibillion-dollar transfers from coal-fired provinces like Alberta and Saskatchewan to provinces like Quebec and Manitoba that rely on hydroelectric power, says a new study from CIBC World Markets Inc.
Jeffrey Rubin, chief economist with CIBC World Markets, said he expects Canada will have to adopt an effective emissions credit market that includes strict limits on carbon dioxide emissions and large fines for companies that exceed those limits.
globeandmail.com: Global warming: Province against province?
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