British Columbia Initiates Carbon Tax

Oh, Canada... Yes, that is the title of our National Anthem and since today is Canada Day, it seems fitting that British Columbia started their new carbon tax. Love it or hate it, this green tax is something that consumers will likely be seeing more of. In BC, it is 2.5 cents per liter, bringing gas in many places to $1.50 a liter (for our friends in the States, that is about $6 a gallon!). The tax is being phased in over 5 years and will be 7.24 cents a liter by 2012. There is also a 2.7 cent a liter tax on diesel and home heating oil that will go up to 8.2 cents a liter by 2012. The BC Premier, Gordon Campbell, "...who calls global warming a threat to life of earth, wants to cut greenhouse gas emissions in the province by one-third by 2020. He said his plan is the most aggressive green agenda in North America." Households in BC started receiving a one time check for $100 last week. Called a Climate Action Dividend, it is meant for people to use to help them make environmentally responsible changes in their homes. It remains to be seen if any of this will take place in Alberta. Stay tuned...