Kathleen Wynne says crash of the carbon market in Quebec and California could lower Ontario’s revenue from cap-and-trade

TORONTO – Premier Kathleen Wynne now says she may have to lower her estimate that cap-and-trade will raise $1.9 billion in new revenue for her government next year, in light of the crash of the carbon trading markets in Quebec and California.

Wynne has already committed $1.2 billion from anticipated cap-and-trade profits to green energy schemes, even though the province won’t receive any money until it starts auctioning off carbon credits to industry nine months from now, in March, 2017.