Highlights from an article by Shawn McCarthy and Wendy Stueck, The Globe and Mail
With British Columbia unveiling a cap-and-trade bill last week, it's clear which government is moving first.
But Chevron, along with other big greenhouse gas emitters in the province, remains in the dark on key aspects of the system and how much it will cost to comply.
"It's a challenge to begin working out what the practical options are for us," Chevron Canada Ltd. spokesman Ray Lord said when the legislation was announced.
Mr. Lord added that current monitoring systems might not be sufficient for the new regime.
Chevron is not alone in its uncertainty.
B.C.'s Greenhouse Gas Reduction (Cap and Trade) Act, which requires legislative approval before taking effect, will set hard caps for large emitters and allow those covered by the act to buy and sell allowances or buy offset units. (An offset is a greenhouse-gas reducing activity, like generating energy from landfill methane.)..."
Read the Full Article Here.
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