Enjoy the decline, Canada:
The Canadian Taxpayers Federation yesterday said it needs a new debt clock after federal debts surpassed a trillion for the first time since Confederation. “This one doesn’t have enough digits,” said Aaron Wudrick, federal director.
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Federal New Democrats criticized on Tuesday recently-unveiled clean fuel standards, after a government impact analysis said higher fuel costs will hit lower- and middle-income households hardest. The Clean Fuel Standard, a key part of Ottawa’s climate plan, was released in draft form last week and aims to reduce the carbon content of liquid fuels, such as those used in transportation and to heat homes. Prime Minister Justin Trudeau’s Liberals say it will cut annual emissions by more than 20 megatons by 2030.
The study, first reported by Blacklock’s Reporter, contains a low estimate of $69 in increased annual costs with a mid-range of $136, depending on where people live and how they heat their homes.
It says societal costs will be up to $26.7 billion with a low estimate of $14.1 billion and a mid-range of $20.6 billion. ...
“Seniors living on fixed incomes may also face higher transportation and heating costs” particularly in Atlantic Canada because of the high use of fuel oil to heat homes as opposed to natural gas, requiring some Atlantic Canadians to pay up to $334 more annually in 2030 just to heat their homes.
“Job opportunities in the oil and gas, or freight transport sectors are expected to be negatively impacted given that the proposed Regulations would increase production costs for these sectors and would decrease demand for fossil fuel products. Canada’s oil refining sector … employs a high proportion of middle-aged men compared to the average working-age population, this group may face an increased risk of job scarcity … When searching for new employment, older workers in Canada (especially those aged between 55 and 64) face unique barriers including ageism; lack of education and access to training; difficulty finding and applying to jobs; health issues, work-life balance issues, and lack of workplace accommodations.”
“Rural communities may also be adversely impacted” because “reductions in industrial activity, salaries, and jobs could potentially negatively affect economic activity and population retention …”
“Landlords may be less inclined to pay higher upfront capital costs to install more energy efficient furnaces as tenants are often responsible for paying their own utility bill”, meaning they, along with low-income households in general, “may be disproportionately impacted by increased fuel costs for home heating.”
The CFR is separate from Trudeau’s carbon tax, which he announced last week he intends to increase from $30 per tonne of emissions now to $170 per tonne in 2030, raising the cost of gasoline alone by 38 cents per litre.
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New $94 billion federal fuel regulations combined with the carbon tax will add fifty cents to a litre of gasoline by 2030, says an advocacy group. The Department of Environment in a legal notice acknowledged middle income households and those facing “energy poverty” will be hardest hit: “This is extremely cruel.”
Whatever.
Canadians voted for it.
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