Saturday, May 24, 2008
Carbon Tax: Target the Oil Companies
Canada gets less out of its oil resources then pretty much any other oil producing nation. A carbon tax can help change that. “A Bank of Kuwait report released in mid-2006 said that the break-even point for a Canadian oilsands producer on a barrel of crude oil is US$33. " http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080523/oil_profits_080523/20080524?hub=TopStories Oil is now $132 a barrel. The oil sands are responsible for much of the increase in green house gases over the last 15 years and the oil sands are environmental embarrassment. I, for one, am content to let production continue, but it is time the companies pay the Federal piper and in a big way.