Globe and Mail columnist Jeffrey Simpson writes this morning that, "On Thursday, President Barack Obama will present his 2010 - yes, 2010 - budgetary proposals. Albertans in particular and Canadians in general might get a shock.
US EMISSIONS CAPS COMING
"Mr. Obama will propose what he's always promised: emissions caps for greenhouse-gas emissions that cause global warming. He will create a market for permits to be purchased from the government, then traded among emitters."
THIS IS DIFFERENT FROM HARPER'S 'INTENSITY' APPROACH "Nothing like this has been proposed by the Harper government...The centrepiece of the Harper approach has been that companies will have to reduce the intensity of their energy use and emissions and, if not, pay into a technology fund that might some day come up with ways of lowering emissions...This intensity approach is quite different from Mr. Obama's hard cap...The Prime Minister and his spokesmen have been saying the two systems - intensity and hard caps - amount to the same thing, when, in fact, they do not."