The loopholes in the carbon pricing system mean that big oil and gas companies pay a tiny fraction of the cost of their pollution. It's about 80% to 90%. Suncor pays one-fourteenth of the full carbon price.
The federal backstop isn't actually doing the most effective job of reducing emissions in the oil and gas sector. We've seen that because the oil and gas sector has continued to increase its emissions. We've heard from the authors of the report from the Climate Institute that we could strengthen the industrial carbon price.
Why aren't we?