Doug Ford says his first moves as premier will be to pull Ontario out of the carbon cap-and-trade system, saving Ontarians 4.3 cents a litre on gasoline in the process.
“They’re gone, they’re done,” vowed the Progressive Conservative premier-designate, who assumes power June 29.
The cap-and-trade system, which was implemented by outgoing Premier Kathleen Wynne’s government, imposed a ceiling on greenhouse gas emissions by specified industries.
Companies have been allowed to buy permits at quarterly auctions to exceed limits. To date, the permits have raised $2.9 billion for programs aimed at reducing emissions in other ways, such as new technologies.