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Ontario plans to tax carbon emissions

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The Ontario provincial government wants to implement a cap-and-trade system to tax carbon emissions as early as 2012.

Many people are still wondering what cap and trade is, but a total of four provinces and seven western U.S. states are part of the Western Climate Initiative pushing to get carbon taxes in place under a harmonized system.

Ontario Premier Dalton McGuinty announced the filing of legislation Wednesday, May 27, by the provincial Ministry of Environment.

The intent of cap and trade is to reduce greenhouse gas emissions by targeting polluters and rewarding non-polluters through a system of taxes and credits.

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