Oh, that’s only net zero. In this fantasy we should also charge fossil fuel industries for past infractions too - maybe they need to pay an extra 20% for extra dac capacity.
Global warming is only a subset of environmental damage.
There's all kinds of other damage in the wake of over-consumption.
When you kill more trees than you grow back, the devastation comes much quicker than waiting for the whole world to get hotter.
Carbon can be looked at as only one material and IF it can be been made neutral in the face of rising or even curtailed consumption, that seems to be the pricing that can be correctly assessed to compensate.
To raise the ante and try to price in many other forms of environmental damage too, you're going to need a bigger bank.
Plus just to earn all that money to allow all that consumption leaves an additional trail of damage behind, with a departing path of financial acumulation leading off in the opposite direction.
And as we know, different currencies have different toxic footprints themselves, and that was before bitcoin which has gotten into a category of its own.
Gemstones and rare elements too, some are bloodier than others. Deaths here can occur faster and sooner than forests are dying.
To me this tends to indicate that reducing consumption will always be green.
carbon engineering's carbon capture technology is projected to be significantly less than $600 tonne, they say the plant they are building for occidental petroleum in texas will be profitable from 1) cost of avoided CO2 purchases (CO2 is used to pump oil out of the ground) and 2) california CO2 credits for "low carbon oil" which is between $175 and $200 USD/tonne [0].
so if carbon ends up at $200 per tonne instead of $100, cost per gallon would be $3.11 + $1.96 = $5.07. If you drive a lot probably enough to nudge you towards an EV!
[0] https://www.neste.com/investors/market-data/lcfs-credit-pric...
However, and I expect this to be the case in most European high-taxed countries, the taxes are just fed in to the general tax revenue of the government. Not ear marked for e.g capture programs.
These taxes do of course fund some inovation projects etc, but I think it would be a hard sell politically even here to direct all carbon-related taxes directly into buying Co2 capture.
For example, as renewables have grown larger in Sweden, the government has started taxing the production of solar power on larger installations (≈ roof of a warehouse), even if the energy is never sold/transmitted to the grid.
But cars are different. For many people, driving is not essential. It should be a luxury to drive a huge hunk of metal around a smooth road. By right that shouldn't be affordable, given the current situation. We just got used to cheap cars and cheap fuel, and built our culture and our cities and our lives around that. (Yeah, I know, people who live in the country are married to their cars). If your country really pushes EV charge points and implements tax incentives on EV vehicles, then you are providing people with a way out of high carbon tax. And you need your PR campaign to be clear that people are getting a choice: high price fossil fuel or cheap EV. Because the chicken/egg here is that you won't get a government that'll make those changes until your convince people to vote for it. And people won't vote for poverty, but they will vote for options.
Currently most incentives for buying electric cars benefit the wealthy. For example in the UK, I can get 45% of my tax back through salary sacrifice on an electric car, whereas a person on basic rate only gets 20%. It should arguably be the other way around i.e. a "super deduction" for the poor, capped at basic rate relief for the rich.
The big problem with this, in the UK at least, is that the trains are already full even though they are much more expensive than this. We really need more capacity but the hugely corrupt debacle that is High speed 2 is going to turn people against building better public transport.
So you'll pay to bulldoze people homes and build massively dense downtown housing that offers a better quality of life than the suburbs?
However the implementation of such a tax, although conceptually simple, is practically very complicated.
>Directly fucks over the working class
From my experience of the U.S - number 2 is seldom the cause of number 1.
on edit: formatting
But, in USA, it would surely go to military.
Not doing that is like comparing emissions to electric vehicles whilst assuming a carbon cost of 0 for the electricity.
gallon of gas has 19.60 lb co2 / gallon [1] = 11,760 pounds of co2 (600 * 19.6) = 5.88 tons (19.6 * 600 / 2000)
cost for clime works to sequester co2 is $600 [2] so total cost to sequester for the 15k is $3,528 (5.88 * 600)
cost to sequester per gallon is $5.88 per gallon ($3,528 / 600 gallons)
price of gas in NYC is $3.11 per gallon so new cost per gallon factoring in the current high cost of carbon capture is $3.11 base price + $5.88 to sequester = $8.99 per gallon
yeah your math seems great lol
assuming cost to sequester goes down to $100 per ton, the cost for 15k of driving at 25mpg would be $588 (5.88 * $100), cost to sequester per gallon would be $0.98 so the new price of gas in NYC would be $4.09 (3.11 + .98), actually not absurd given recent trends and probably not high enough to discourage people from driving
sources:
[1] https://www.eia.gov/environment/emissions/co2_vol_mass.php
[2] https://e360.yale.edu/features/the-dream-of-co2-air-capture-...
[3] https://www.nyserda.ny.gov/researchers-and-policymakers/ener...