It's hard to tell which has sunk lower: BP's share price or the prospects for government action on climate change. Despite daily reminders of the growing costs of oil addiction -- from blackened Louisiana shorelines to the rapidly melting Arctic -- climate change seems to have dropped off global leaders' agendas. The recent G20 declaration paid lip service to the issue, the U.S. Congress seems increasingly unlikely to pass a climate bill this year, and Canada's official policy position is to say "after you" to the U.S.
All of which makes British Columbia's approach even more remarkable. On July 1, 2008, B.C. embarked on an ambitious climate policy path; it brought in North America's first ever carbon tax shift. Though praised by environmentalists and economists, the measure was soon met by a host of concerns -- that it could increase overall taxes, decrease growth, and hurt low-income families. Some pundits labelled it political suicide, particularly after the ...