Ottawa’s emissions reduction plan could push Alberta into a “deep recession” by 2030, while raising consumer prices nationwide and lowering Canadians’ incomes by 2050, says a new report by the Conference Board of Canada, commissioned by the Alberta government.
The report, published on Jan. 21 and updated on March 24, looks at the potential economic impacts of Canada’s Emissions Reduction Plan (ERP), a set of measures the federal government has proposed to reduce greenhouse gas emissions by 40 to 45 percent relative to 2005 levels by 2030.
This plan includes measures, some underway and others under development, such as carbon pricing, the emissions cap on oil and gas, clean electricity regulations, and electric vehicle sales mandates and incentives, which Ottawa says put Canada on a path to reach net-zero emissions by 2050….