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At this point, the CCS tech is all there; cost is the main problem. Currently we're at or above $100/tonne of CO2 captured, transported and stored, with capture

At this point, the CCS tech is all there; cost is the main problem. Currently we're at or above $100/tonne of CO2 captured, transported and stored, with capture being the main cost driver. To make this economically feasible, it requires a carbon tax equivalent to a price increase on gasoline of around $1/gallon (IIRC). Which would be unpopular, to say the least.

schoen 10y ago
Gas prices vary a lot more than that between countries today (largely due to differences in existing taxes). http://www.globalpetrolprices.com/gasoline_prices/Europe/ http://www.globalpetrolprices.com/gasoline_prices/Europe/ That's stated in dollars per liter (an unusual unit). In dollars per gallon, Germany would be $5.79/gallon today and the U.K. would be $6.13/gallon.
- lucaspiller 10y ago
  Here in Italy it varies a lot even within the country. Yesterday I drove ~600km from the south to Rome and prices varied between €1.45 and €1.75 per litre.
  - fpoling 10y ago
    In Norway prices can vary by 10-15% on the same gas station withing hours. In many places the cheapest gasoline is on Sunday evening with significantly higher price coming on Monday.
cmdrfred 10y ago
The oil and gas industry benefits from 5.3 trillion dollars[0] in subsidies currently. End those and raise taxes on the industry and the taxes won't need to be that high on the consumer end. [0]http://www.imf.org/external/pubs/cat/longres.aspx?sk=42940.0 http://www.imf.org/external/pubs/cat/longres.aspx?sk=42940.0
- Karunamon 10y ago
  Wouldn't they necessarily pass those costs on to the consumer?
  - cmdrfred 10y ago
    Depends these firms are highly profitable, if one decided to eat some or all of those costs their product would cost less than its competitors and they would sell at much higher volume.