Huron Bruce MPP and and PC Cap and Trade Critic Lisa Thompson is once again calling on the provincial government to abandon the scheme.
Lisa Thompson says the results of California's cap and trade auction do not bode well for Ontario.
She says California sold less than 1.5% of its carbon credits at auction last week.
She says the Liberal government is setting Ontario up for failure by entering the oversupplied carbon market. She says California sold only $8.4-million worth of of the $563-million of carbon allowances up for auction. This is the second auction in a row where California sold just 2% of available allowances.
She adds the Liberals will not be able to raise the money they need ot cover their election promises.
"This money was supposed to fund green programs in California, such as a high speed rail project," says Thompson. "Instead, California will have to find another source of funding to make up for the 98.5% shortfall from the August auction. What will happen to Ontario taxpayers if future auctions fail to raise the $1.9-billion that the Liberals have already spent on their climate change action plan?"
Thompson points to a forum poll published last week showed 56% of Ontarians disagree with the cap and trade plan.
