Environment Minister Steven Guilbeault says the recent analysis issued by Parliamentary Budget Officer (PBO) Yves Giroux on the economic impact of the federal government’s incoming Clean Fuel Regulations (CFR) is “unbalanced” and “incomplete,” adding that he disputes some of the numbers Giroux outlines in his report.
The environment minister said the PBO “fails to recognize the cost of climate change to Canadians” and that Giroux’s report draws “price impact conclusions that are substantially greater” than the figures Guilbeault’s department provided him.
The CFR, which is set to take effect July 1, will require fuel producers and importers to reduce the carbon intensity of the gasoline and diesel they produce and sell in Canada, with the standards increasing gradually every year until reaching full stringency by 2030.
The PBO report said the numbers were drawn from figures provided by Environment and Climate Change Canada (ECCC).
“It is a very partial analysis,” he said. “You’re asking me what I disagree with? I disagree with the fact that it’s a very incomplete analysis. That’s what I fundamentally disagree with. If you have an incomplete analysis, of course your numbers and your conclusions will be skewed.”
Giroux responded to Guilbeault’s comments by saying his office used the “ECCC’s own data and economic results to estimate the distributional impact of the CFR” while also pointing out that the report outlined both the CFR’s benefits and drawbacks.
“Over the years we have estimated the costs of many policy proposals without assessing their potential benefits,” Giroux told The Epoch Times.
Commenting on the PBO’s report, Conservative Party Leader Pierre Poilievre called the CFR a “second carbon tax” and said Giroux’s figures show Canadians will be “paying more at the pump and for everything else.”