Carbon tax here to stay: Alberta energy minister

Alberta, Canada, home to the world’s third largest oil reserves, will await further federal government moves before upping its own emissions limits or developing a carbon cap-and-trade scheme

Ronald Liepert, minister of energy for the province of Alberta in Canada, said at an event in New York on Tuesday that the province would not adjust its current method for limiting greenhouse gas (GHG) emissions in the foreseeable future.

The province requires emitters of more than 100,000 tonnes of GHGs per year to meet mandatory reduction targets. Those that cannot must purchase offsets or pay a penalty of $15 per tonne, which is placed in a clean energy fund that is currently worth $257