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Here's an idea how to become carbon neutral in a hurry. New York State is proposing an emission tax on gasoline of 55 cents per gallon [1]. When you burn a gal
by credit_guy 5y ago
Here's an idea how to become carbon neutral in a hurry.
New York State is proposing an emission tax on gasoline of 55 cents per gallon [1]. When you burn a gallon of gasoline you produce about 20 pounds of CO2, so NYS should collect about 2.8 cents for each pound of CO2 emitted by ICE cars and trucks. The state could retain 0.8 cents for various administrative and overhead costs and pass on 2 cents to anyone who can scrub 1 pound of CO2 from the atmosphere. In particular to forest owners (by the way, I'm not one and none of my friends are). An acre of forest can remove many thousands of pounds of CO2 per year from the air (for example [2] claims 6k for a generic forest, while [3] says 30k for a 50-year old oak forest). Let's say a given acre scrubs only 5k pounds. At 2 cents a pound its owner could receive a tax credit of $100/year. There are plenty of lots out there that sell for less than $1000/acre (see for example [4], where a 260 acre lot is being offered for less than $200k). That translates in an annual ROI of more than 10%. Where can you find such an investment opportunity in today's markets?
[1] https://www.news10.com/news/ny-news/proposed-green-gas-tax-bill-draws-criticism-and-praise/ https://www.news10.com/news/ny-news/proposed-green-gas-tax-b...
[2] http://www.forestecologynetwork.org/climate_change/sequestration_facts.html http://www.forestecologynetwork.org/climate_change/sequestra...
[3] https://www.nytimes.com/2012/12/04/science/how-many-pounds-of-carbon-dioxide-does-our-forest-absorb.html https://www.nytimes.com/2012/12/04/science/how-many-pounds-o...
[4] https://www.landandfarm.com/property/261_acres_Cabin_and_Hunting_Land_in_Osceola_NY_Glenfield_Western_Railroad-11597091/ https://www.landandfarm.com/property/261_acres_Cabin_and_Hun...