<p>After long hours of heated discussion, the Canadian government has established the world&rsquo;s first nationwide carbon price. Only two of Canada&rsquo;s ten provinces refused to sign the law, arguing that carbon pricing would lead to reduced competition between firms. ;</p>
<p>During Friday&rsquo;s meeting, Canadian Prime Minister Justin Trudeau presented his carbon-pricing plan to provincial representatives, aboriginal leaders, and US Vice President Joe Biden. Trudeau&rsquo;s decision to price carbon was likely influenced by the fear that Donald Trump&rsquo;s election will lead to increased carbon emissions by the US. ;</p>
<p>&ldquo;I understand that many of you are concerned about what the new administration will do. Whatever uncertainty exists around the near-term policy choices of the next president, I am absolutely confident the US will continue making progress in its path to a low-carbon future,&rdquo; said Biden as he attended the meeting in Ottawa. ;</p>
<p>Economists often tout carbon pricing, which charges based on CO2 emissions, as the most effective method to reduce &ldquo;global warming emissions.&rdquo; Canada&rsquo;s plan will increase the cost of producing a ton of carbon by $7.60 (the equivalent of 10 Canadian dollars) per year until 2022 when it will have reached about $38. ;</p>
<p>The price will pause for British Columbia in 2020 at just under $23. ;</p>
<p>Manitoba and Saskatchewan refused to sign the agreement. &ldquo;We compete with the Americans in our province for drilling rigs. Our farmers compete with their farmers. Competitiveness for Canadians matters, especially at a time when our energy sector is reeling from low commodity prices,&rdquo; argues Saskatchewan Premier Brad Wall. ;</p>
<p>Manitoba Premier Brian Pallister hinted that he might sign the agreement in the future if his province receives more money for healthcare.</p>
<p><strong>Editor&#8217;s note:</strong> This is really a stupid idea, punishing businesses for being productive. Next thing you know they will be <a href="https://punchingbagpost.com/california-passes-law---cows-must-be-less-flatulent/" target="_blank" rel="noopener"><strong>penalizing cows for farting, like California is attempting to do</strong></a>. There is a right way to do things, by the way, see below.</p>
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