Carbon taxes are extremely effective. Why should pollution be free?
Put a price on pollution and the market will figure out ways to avoid the cost. A price is levied on each tonne of emissions from fossil fuel sources, be it from coal, natural gas, gasoline, etc. The tax has to be high enough to dissuade people from making choices that cause emissions in the first place.
Typically a carbon tax includes the following thing:
1. Taxes are collected from CO2 generators, ideally from every sector.
2. Typically 50% or more of the income is refunded back to tax payers (usually this is marketed as "a Carbon Dividend." The carbon dividend is sent to the bottom ~2/3's of the population by income. This arrives in the form of a monthly check. This helps make carbon taxes less regressive.
3. Remaining funds are spent on helping impacted groups adapt, and environmental programs. Note that a *$30*/ton carbon tax translates into an additional $0.25 cents per gallon. That's a big jump up in gas cost, so getting a $50 check every month to offset is helpful. What will happen, of course, is that people will look at that $50 check and want to keep as much of it to themselves, and will start looking for ways to cut back on gas, maybe buy an EV or an electric scooter, if their commute isn't too far.
Economists are crystal clear:
Nobel Prize-winning economist says carbon taxes are the solution to climate change | CBC Radio
Eleven teams participated in a detailed study called the Stanford Energy Modeling Forum (EMF) project, which examined the economic and environmental impact of an economy-wide carbon tax in the United States.
Every single team found the same result: not only does a carbon tax lead to substantially fewer emissions, it also could have long-term positive economic growth.
“At a broad level, the results are very unsurprising to me,” said Dale Beugin, executive director of Canada’s Ecofiscal Commission. “The consensus is that carbon tax is going to have a small economic impact, whether positive or negative.”
“Carbon tax is a no-brainer,” he added.
Carbon tax won’t harm economy, but climate change will: study
How it plays out in real life:
The cost of carbon pricing in Ontario and Alberta
Claims that carbon pricing will lead to skyrocketing price increases throughout the economy are misplaced at best—and misleading at worst.
Alberta’s new carbon tax is US $15/tonne which adds about 25 cents to a gallon of gasoline. Overall it costs an average Albertan household US $110 to $150 annually and indirect costs will add an additional $60 to $75.
(Note article figures are in Canadian Dollars, I’ve converted them to USD)
But that's only half the story, 60% of Alberta's households would get monthly carbon dividend checks to cover the extra cost."
"Rebates that would begin flowing to lower- and middle-income Albertans in January, 2017, are meant to take the edge off the sting of the new carbon taxes. For example, a couple earning up to CAN$95,000 a year would receive CAN $300 annually, plus an additional CAN$30 a child.
The province expects that the 60 per cent of Alberta households that would receive the full, non-taxable rebate would have the “direct” costs of the carbon levy more than covered by the rebate system."
So what happens when you tax carbon and then give people a check to cover the difference? Well they still want to save money so they look for ways to reduce their gas use.
Innovation is the result.
Hint: EVs already cost *1/4* the cost per mile that gasoline and diesel do.
UK: "A carbon tax killed coal in the UK. Natural gas is next."
A carbon tax killed coal in the UK. Natural gas is next.
What about conservatives?
Many conservative groups back carbon taxes because they are a market-based approach to regulating pollutants:
A group of veteran conservative political leaders are launching a political-action committee to push for a U.S. carbon tax, a move potentially funded by several large corporations that could test Republican appetite to act on climate legislation.
Conservative Group Will Push for Carbon Tax, a Contrast to GOP Resistance
What about the oil companies?
More and more oil companies agree on anthropogenic global warming, carbon taxes and works to reduce emissions.
GCI is a voluntary, CEO-led initiative which aims to lead the industry response to climate change. Launched in 2014, OGCI is currently made up of ten oil and gas companies that pool expert knowledge and collaborate on action to reduce greenhouse gas emissions.
http://oilandgasclimateinitiativ...
Companies like Exxon, who knew about the dangers of global warming as early as the 1970s, have backed carbon taxes - it makes a lot of sense in some ways: it provides a predictable business environment and addresses global warming without regulatory overhead.
In the case of Exxon, they've invested heavily in natural gas which benefits in the short run as it pushes out coal and oil demand isn't much effected by carbon taxes today (but will be as EVs get cheaper).
Exxon, long accused of downplaying the threat of climate change, announced plans on Tuesday to donate $1 million over two years to a group urging Washington to enact a tax on carbon.
The donation to Americans for Carbon Dividends makes Exxon (XOM) the first American oil and gas supermajor to financially support the movement.
The decision reflects Exxon's desire to be viewed as part of a climate change solution, not the problem. Exxon realizes its early support could allow the company to shape legislation -- and prevent a more burdensome outcome from Washington.
Why Exxon wants to be taxed for carbon
Norways Equinor:
Supporting a cost for carbon
“We are working with governments, businesses and organisations to set an effective price for carbon around the world.”
“An effective price for carbon emissions would incentivize the supply and use of lower carbon options, enabling the world to move faster to sustainable energy while meeting growing demand along the way. In Norway, Equinor already operates successfully with the highest carbon tax in the world—around USD 65 per tonne of CO2 Equinor has shown that it’s possible for oil and gas production to prosper in a world of high carbon price.”
Roger Fjellstad Olsen's answer to What is Norway's opinion of global warming?
Put a price on pollution and the market will figure out ways to avoid the cost. A price is levied on each tonne of emissions from fossil fuel sources, be it from coal, natural gas, gasoline, etc. The tax has to be high enough to dissuade people from making choices that cause emissions in the first place.
Typically a carbon tax includes the following thing:
1. Taxes are collected from CO2 generators, ideally from every sector.
2. Typically 50% or more of the income is refunded back to tax payers (usually this is marketed as "a Carbon Dividend." The carbon dividend is sent to the bottom ~2/3's of the population by income. This arrives in the form of a monthly check. This helps make carbon taxes less regressive.
3. Remaining funds are spent on helping impacted groups adapt, and environmental programs. Note that a *$30*/ton carbon tax translates into an additional $0.25 cents per gallon. That's a big jump up in gas cost, so getting a $50 check every month to offset is helpful. What will happen, of course, is that people will look at that $50 check and want to keep as much of it to themselves, and will start looking for ways to cut back on gas, maybe buy an EV or an electric scooter, if their commute isn't too far.
Economists are crystal clear:
Nobel Prize-winning economist says carbon taxes are the solution to climate change | CBC Radio
Eleven teams participated in a detailed study called the Stanford Energy Modeling Forum (EMF) project, which examined the economic and environmental impact of an economy-wide carbon tax in the United States.
Every single team found the same result: not only does a carbon tax lead to substantially fewer emissions, it also could have long-term positive economic growth.
“At a broad level, the results are very unsurprising to me,” said Dale Beugin, executive director of Canada’s Ecofiscal Commission. “The consensus is that carbon tax is going to have a small economic impact, whether positive or negative.”
“Carbon tax is a no-brainer,” he added.
Carbon tax won’t harm economy, but climate change will: study
How it plays out in real life:
The cost of carbon pricing in Ontario and Alberta
Claims that carbon pricing will lead to skyrocketing price increases throughout the economy are misplaced at best—and misleading at worst.
Alberta’s new carbon tax is US $15/tonne which adds about 25 cents to a gallon of gasoline. Overall it costs an average Albertan household US $110 to $150 annually and indirect costs will add an additional $60 to $75.
(Note article figures are in Canadian Dollars, I’ve converted them to USD)
But that's only half the story, 60% of Alberta's households would get monthly carbon dividend checks to cover the extra cost."
"Rebates that would begin flowing to lower- and middle-income Albertans in January, 2017, are meant to take the edge off the sting of the new carbon taxes. For example, a couple earning up to CAN$95,000 a year would receive CAN $300 annually, plus an additional CAN$30 a child.
The province expects that the 60 per cent of Alberta households that would receive the full, non-taxable rebate would have the “direct” costs of the carbon levy more than covered by the rebate system."
So what happens when you tax carbon and then give people a check to cover the difference? Well they still want to save money so they look for ways to reduce their gas use.
Innovation is the result.
Hint: EVs already cost *1/4* the cost per mile that gasoline and diesel do.
UK: "A carbon tax killed coal in the UK. Natural gas is next."
A carbon tax killed coal in the UK. Natural gas is next.
What about conservatives?
Many conservative groups back carbon taxes because they are a market-based approach to regulating pollutants:
A group of veteran conservative political leaders are launching a political-action committee to push for a U.S. carbon tax, a move potentially funded by several large corporations that could test Republican appetite to act on climate legislation.
Conservative Group Will Push for Carbon Tax, a Contrast to GOP Resistance
What about the oil companies?
More and more oil companies agree on anthropogenic global warming, carbon taxes and works to reduce emissions.
GCI is a voluntary, CEO-led initiative which aims to lead the industry response to climate change. Launched in 2014, OGCI is currently made up of ten oil and gas companies that pool expert knowledge and collaborate on action to reduce greenhouse gas emissions.
http://oilandgasclimateinitiativ...
Companies like Exxon, who knew about the dangers of global warming as early as the 1970s, have backed carbon taxes - it makes a lot of sense in some ways: it provides a predictable business environment and addresses global warming without regulatory overhead.
In the case of Exxon, they've invested heavily in natural gas which benefits in the short run as it pushes out coal and oil demand isn't much effected by carbon taxes today (but will be as EVs get cheaper).
Exxon, long accused of downplaying the threat of climate change, announced plans on Tuesday to donate $1 million over two years to a group urging Washington to enact a tax on carbon.
The donation to Americans for Carbon Dividends makes Exxon (XOM) the first American oil and gas supermajor to financially support the movement.
The decision reflects Exxon's desire to be viewed as part of a climate change solution, not the problem. Exxon realizes its early support could allow the company to shape legislation -- and prevent a more burdensome outcome from Washington.
Why Exxon wants to be taxed for carbon
Norways Equinor:
Supporting a cost for carbon
“We are working with governments, businesses and organisations to set an effective price for carbon around the world.”
“An effective price for carbon emissions would incentivize the supply and use of lower carbon options, enabling the world to move faster to sustainable energy while meeting growing demand along the way. In Norway, Equinor already operates successfully with the highest carbon tax in the world—around USD 65 per tonne of CO2 Equinor has shown that it’s possible for oil and gas production to prosper in a world of high carbon price.”
- Our oil and gas production on the Norwegian Continental Shelf is among the most carbon efficient in our industry.
- The driver for this environmental performance is simple—the Norwegian government has set high standards and a high cost for emissions.
Roger Fjellstad Olsen's answer to What is Norway's opinion of global warming?
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