Quote:
Originally Posted by Street Pharmacist
I'll start by saying I think Canada should sell it's oil as long as people want oil. Unilateral supply destruction in a global commodity doesn't decrease consumption, it just makes it more expensive. I also strongly believe Alberta has future gold mine with oil sands for producing what will be heavily sought after carbon products that are most easily
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This is the entire premise behind taxing carbon.. making it more expensive than alternatives to drive market forces away from it.
So in the short term it won't reduce consumption, but in the medium to long term, the higher cost brought on by lower supply will drive innovation to move demand away from carbon intensive options.
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