Could Canada Pass Something Similar To The Inflation Reduction Act?

Canada’s oil industry is one of the dirtiest in the world. The oil sands in the northern nation’s Alberta province represent the fourth largest proven oil reserve in the world, but they don’t produce normal oil. Instead, they produce a naturally occurring tar-like crude bitumen which is particularly ecologically unfriendly to extract, process, and consume. Because of the particularly weighty negative externalities associated with the oil sands, investors, banks, and major oil companies have been shying away from Albertan projects…