Support for biofuel subsidies collapsing in Canadian parliament
The single most expensive environmental initiative put forward by Canadian Prime Minister Stephen Harper (Conservative) was a biofuels initiative that is now seeing significant new opposition. The CDN$2.2 billion (about a $1 trillion at current exchange rates) was intended to provide incentives for biofuel development north of the border. However, recent spikes in food prices and criticism of using food crops to make transportation fuel has caused some who previously supported the plan to switch sides.Opposition International Development critic (Liberal) Keith Martin went as far as calling for a moratorium on biofuel subsidies until the problems are better understood. NDP members of parliament also opposed the plan while the Bloc Quebecouis officially supports it. However, Bloc environment critic Bernard Bigras is opposed to the use of corn ethanol. Conservative Environment Minister John Baird is arguing in favor of the legislation and says that $500 million of the total is set aside for research into next-generation biofuels such as cellulosic ethanol. The legislation looks likely to pass regardless of the new opposition, although an amendment to the bill calls for a review of the environmental and economic impact of the 5 percent ethanol target one year after the law passes.
[Source: Globe and Mail]
Reader Comments (Page 1 of 1)
JAMF 8:40AM (5/03/2008)
Is that US inflation sarcasme? 2.2 Billion Canadian dollars convert to 2.158 Billion US dollars, for those that believe everything they see (written) on the internetnet/newspapers or TV.
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Sam Abuelsamid 8:45AM (5/03/2008)
Yes
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Mehdi Cheddadi 1:53PM (5/03/2008)
"Bloc Quebecouis"?
it's Bloc Québécois
http://www.blocquebecois.org/fr/publications-english.asp
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Christopher 9:43PM (5/03/2008)
Im a Canadian and this comment baffles me "CDN$2.2 billion (about a $1 trillion at current exchange rates) Who wrote this? is the the author trying to say that $2.2 billion Canadian is 1 trillion US dollars? That would be an appaling currency devaluation. Either your authors are, uneducated, or blatantly trying to poke fun at Canada. Either way, please be more conscious of your comments when writing an article to avoid alienating your Canadian readers.
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GenWaylaid 1:36AM (5/04/2008)
"CDN$2.2 billion (about a $1 trillion...)"
Aw crud, now my U.S. dollars are worth only 0.22 Canadian cents apiece. On the upside, I think I have a sock full of Loonies in my closet that must be worth a few grand now.
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GoodCheer 9:07AM (5/04/2008)
Christopher: Relax man, I'm Canadian too, and I laughed out loud when I read that (and so did my girlfriend when I read it to her).
"Either your authors are, uneducated, or blatantly trying to poke fun at Canada."
Um, for one thing, is anything wrong with the later?
And for another... isn't that more poking fun at the US currency that's dropped about 1/3 of its value in the last 5 years?
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GreyFlcn 12:20PM (5/04/2008)
Yeah, US Dollar isn't quite that bad.
But it isn't quite that good either.
http://greyfalcon.net/canadadollar.png
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