The right price for a carbon tax is $300/ton ($3/gallon gasoline/diesel). Tax revenue paid as dividend to residents. By far, the cheapest way to avoid paying taxes on energy is cheap renewables. But if costs of capture/sequestration are lower than $300/ton, then FF companies investing in these, lowers their taxes, and does not prevent more renewables in addition to this. They are independent industries with independent skills.
CO2 levels are likely to overshoot even with 100% energy transition by 2040.
The right price for a carbon tax is $300/ton ($3/gallon gasoline/diesel). Tax revenue paid as dividend to residents. By far, the cheapest way to avoid paying taxes on energy is cheap renewables. But if costs of capture/sequestration are lower than $300/ton, then FF companies investing in these, lowers their taxes, and does not prevent more renewables in addition to this. They are independent industries with independent skills.
CO2 levels are likely to overshoot even with 100% energy transition by 2040.