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Over the past several months the Canadian federal government has been operating under the assumption that they would be joining forces with the US government in the development of a joint carbon trading system between the two countries. Because of this, progress in dealing with greenhouse gas emissions has basically been on hold at the federal level in Canada until the details of a US-led plan were revealed.
This inaction by the Government of Canada has taken the spotlight off of their much-maligned Turning the Corner greenhouse gas action plan, which was originally introduced in early 2007. This plan was widely criticized for its use of intensity-based emission reductions and targets that were not nearly as strong as those defined in the Kyoto Accord, of which Canada is a signatory.
But a recent newsletter by a major carbon markets research organization indicates that the US is not interested in working with Canada to develop a carbon trading system involving both nations. The newsletter cites Errick Willis, president and CEO of Carbon Capital Management:
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