Without CO2 taxes, we're globally screwed. I expect they will be forced through, and confiscatory tariffs on trade with countries that refuse to impose them.

It's hard to say how it will go. It's entirely possible carbon capture will become cheap enough that a couple of rich countries can just capture all the necessary carbon for the whole globe and it will be a rounding error in their budget. Then other countries can burn all the oil/coal they want and it will only be a local pollution problem rather than an existential risk to the globe.