A carbon tax can offers a significant opportunity to reduce greenhouse gas emissions and stimulate innovative economic activity. However, evidence would suggest that the carbon tax must be priced appropriately.
I believe that the carbon tax in BC is currently priced too low and needs to be raised significantly. The net price of natural gas including the carbon tax is now less than it was before the carbon tax was introduced in 2008. This means that it has not created any significant economic incentive for users to reduce consumption and switch to other energy sources. And it has made it difficult for businesses to create innovative alternatives to fossil fuels.
Sweden has a carbon tax of over $100 per ton and has demonstrated success in reducing its emissions.
We should be raising our carbon tax to at least that level to make BC a leader in innovative sustainability solutions.