Assignment 2: Carbon Pricing (10 %) The threat of global warming caused by harmful emissions (mostly of carbon dioxide) and the potential consequences of such climate change have resulted in governments looking for ways to get its societies to reduce emissions from the use of fossil fuels=__ Two ideas have been considered and implemented by various govemments_.__0ne is a Carbon Tax;__The other is a CapandTrade system=__Le: wing political philosophies are generally in m of more government action to reduce damage to the environment while those on the political right generally more concerned about the economic impact of such government action. INSTRUCTIONS: Write a position paper that explains both Carbon taxes and a Cap-and-Trade system as they would apply in Canada=__Follow the following outline: 1. Describe how a Carbon Tax works. What would be the expected benets of a Carbon Tax systemgn What would be the drawbacks2__Research cases where a carbon tax is currently being used:__What have been the resultst_'__ (4 marks) 2. Describe how a Cap-andTrade system works. What would be the expected benets of a Cap-andTrade system2__What would be the drawbacks2__Research cases where a Cap-andTrade system is currently being used=__What have been the results2__(4 marks) I TUTOR, THIS QUESTION PLEASE