27 ms·
Big Oil has always had a huge vested interest in CCS because it allows them to continue producing fossil fuels (which, by virtue of being captured, become less
by insane_dreamer 2y ago
Big Oil has always had a huge vested interest in CCS because it allows them to continue producing fossil fuels (which, by virtue of being captured, become less of a threat).
- euroderf 2y agoOTOH if the world could find a market price for CO2 capture, maybe taxes on fossil fuels could be tied to that price ? It would make them expensive(r) fer sher.
- rickydroll 2y agoYou don't need a market price for CO2 capture. Treat carbon taxes like VAT. Pick a dollar value for each ton of CO2 produced. Charge the producer of that CO2 a carbon tax. Sometimes, you want to tax after the producer, and sometimes, you want to tax a producer indirectly. For example, it would be almost impossible to tax individuals for transportation CO2, but you use a bulk carbon tax on energy sources as a reasonable proxy for end-user-produced CO2. A carbon tax is regressive because it affects poor people much more than rich people. One way to fix that is to provide a progressive CO2 tax rebate. Based on your income, you get your theoretical carbon tax back; the amount decreases as income/wealth increases.