I believe that this is a…

I believe that this is a short-sighted choice which not only goes against federal mandate, but positions the province of Ontario such that it is liable for losses incurred by entities who participated in this programme and are now facing losses due to worthless credits held.

The uniquely designed provincial cap and trade agreement not only encouraged corporations to make environmentally conscientious decisions, but also encouraged international partnerships between businesses in Quebec, Ontario and California. By cancelling cap and trade, we have severed partnerships and sent a resounding message to our neighbours that we are volatile, short-sighted, and un-invested in long-term strategies to preserve relationships and the environment.

In the absence of the cap and trade carbon pricing arrangement, these fees will be collected via the federal backstop. This directly impacts fossil fuel and other industries which require CO2 overage fees. With industries directly responsible for covering their overages, they now must pass on these fees to the consumer - or leave the province. The federal levies will increase each year, unlike our current (previous?) credit programme.

Let's not skim over the valuable green initiative subsidies, funded by cap and trade, which put money back into the pockets of hundreds of Ontarians by supporting consumer home and transportation efficiencies. Or the cost of lawsuits generated by the program's cancellation. Or the impact of the federal backstop levies bypassing provincial ledgers, thus removing a significant source of income.

This act will hinder us in the long term, for all of the above reasons and then some. It is a knee jerk response of spite, and will hinder this province for decades. Ontario is a forward-thinking, innovative province with resources and talent able to break through and set a global example of how communities, industries and government can work together to build a better future. This is a crippling choice. Please consider this seriously.