The Conservative government is preparing to table an economically apocalyptic estimate of the Kyoto Accord's implementation costs to Canada, CTV News has learned.
A leading Canadian environmentalist told The Canadian Press earlier Wednesday that she expects Environment Minister John Baird to present new research to say Canada can't meet its Kyoto commitment when he appears before a Senate committee on Thursday.
"We expect Mr. Baird to paint a picture of economic collapse if we comply with the Kyoto targets," said Louise Comeau of the Sage Centre, an environmental think tank.
Robert Fife, CTV's Ottawa bureau chief, is reporting the following details from the study, which he said has been backed by independent economists:
The economy would shrink by 4.2 per cent if Kyoto is implemented. "It says it will cause a recession on par with the 1981-82 recession."
--Job losses will total 275,000 by 2009
--Electricity costs will jump by 50 per cent by 2010
--Gasoline costs will jump by 60 per cent almost immediately
--Home heating oil will double. Source...