Carbon tax won’t affect oil sands development if crude rises above $60 — report

A new report says putting a price on carbon won’t likely affect oil sands development plans if the price of oil rises above US$60 a barrel.

TD Bank economist Dina Ignjatovic said that’s the estimated minimum price oil sands companies need to go ahead with their projects, and if it’s reached then the extra cost of a carbon tax likely won’t sway a decision.

If the price of oil stays below US$60 a barrel then the picture becomes murkier, said Ignjatovic.

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