Water-Heavy Industries Ought to Pay More: Report

Water taxes or a water-permit trade could help oil sands, farms to better conserve water.

A roundtable report has concluded that water-intensive industries in Canada, such as agriculture and oil and gas extraction, should start paying a premium on the water they use to help manage the country's fresh water supply. The report, released by the National Round Table on the Environment and the Economy, estimates that the oil and gas industry's water use will nearly double by 2030, and that agriculture will be using 56 per cent more water by that point. And while Canada is a long ways away from facing a water crisis, the independent report suggested that the government ought to look at either a water tax or a water permit trade, similar to cap-and-trade markets for carbon emissions. The report said that doing so would help companies to better manage their water use and cover the costs of water system governance.