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Tax revenues. The Government of Canada collects about $5 billion per year in excise taxes on gasoline, diesel, and aviation fuel [21] as well as approximately $1.6 billion per year from GST revenues on gasoline and diesel (net of input tax credits). The Canada Revenue Agency, a part of the government, collects these taxes.
Tombe estimated the impact of the carbon tax on the 3 "most carbon-intensive consumer purchases". He estimated an increase in the price of gasoline of c. 6.7 cents per litre when the CA$30 a tonne tax came into effect. Natural gas prices would increase by about $1.50 /GJ. [20] "[L]ow to middle-income households" would "receive compensation". [20]
Most of the Canadian petroleum production is exported, approximately 600,000 cubic metres per day (3.8 Mbbl/d) in 2019, with 98% of the exports going to the United States. [1] Canada is by far the largest single source of oil imports to the United States, providing 43% of US crude oil imports in 2015. [2]
The lower gasoline prices are a result of PEI's not charging the Provincial Sales Tax of 10% unlike in Nova Scotia where the Harmonized Sales Tax of 15% is charged. In New Brunswick, the HST is also charged, but they set a maximum price for most of entire province (no zones) without setting a minimum price. As a price comparison, on 1 July 2006 ...
The Greenhouse Gas Pollution Pricing Act[a] (French: Loi sur la tarification de la pollution causée par les gaz à effet de serre) is a Canadian federal law establishing a set of minimum national standards for carbon pricing in Canada to meet emission reduction targets under the Paris Agreement. [2] It was passed as Part 5 of the Budget ...
Enerplus - Has operations and projects in four Canadian provinces (Western Canada) and seven U.S. states. Produced about 79,000 bbl (12,600 m 3) equivalent/d in 2010 60% of which is natural gas. 2012 revenue was $1.19 billion about the same as 2010, half of what it was in 2008.
[33] In 2014, Canada Natural Resources described how federal-provincial agreements and accords had informed Canada's energy policy including the Western Accord on oil and gas pricing and taxation with the provinces of Alberta, Saskatchewan and British Columbia, the Agreement on Natural Gas Markets and Prices with Alberta, Saskatchewan and ...
Producer prices in Canada gained 0.5% in July from June, primarily on higher prices for energy and petroleum products, Statistics Canada said on Tuesday in a preliminary flash estimate. Energy and ...