Carney-Smith Carbon Tax Dispute: Timeline & Rules

0:00Talk is heating up between Prime Minister Mark Carney's federal team and Alberta Premier Danielle Smith's government over jacking up the industrial, carbon tax. They're aiming to lift it from $95 per tonne to $130 per tonne as laid out in an November memo of understanding. That April 1st deadline came and went without a full deal, but both sides say they're making headway on the basics. The holdup is all about the timeline for the hike, plus how strict the rules will be, like industry benchmarks and emission credits. Carney wants a solid carbon market that keeps Canada's oil and gas competitive, especially with production at record highs. He's pushing to diversify exports beyond the U.S., which ties into Alberta's hopes for a new pipeline to British Columbia's coast and Asian markets. Oil and gas leaders are on edge, saying higher taxes could hurt Canada's edge in global exports, while climate advocates demand no slacking on. Emissions cuts. Even inside the liberal camp, folks like MP Stephen Gilbolt are sounding alarms and

1:02op-eds, calling it a crossroads for real climate action, and warning against weakening the tax pillar. Experts like climate policy CEO Michael Bernstein stressed strong rules over just hitting the price target, think boosting credit values close to that. Headmine rate-through stuff like contracts for difference, Smith noted those ideas are on the table, even if not in the original dock, and Carney sees them as key to effective pricing. Alberta's lining up a streamlined project office pitch for that pipeline, but faces pushback from BC, is premiere and first nations over tankers and construction. Liberal MPs call it a tough balance of emissions, costs, and competitiveness. Negotiations roll on to lock in a deal that works for everyone. I'm Corey with The Story, and you've been listening to Canada News Today, AI-powered local news.