Individual European country carbon taxes tend not to cover the power sector, hence the marginal cost of abatement is much higher and the prospect of us seeing significant emission reductions is much lower. With the exception of Sweden and a couple of other countries the carbon taxes are very low and cover a small part of the overall economy. The advantage of cap-and-trade schemes such as the EU ETS over carbon taxes is that they specify an emission reduction and let the market work out what price is necessary to achieve that reduction. Carbon taxes are always likely to be too low to make a difference. It will be interesting to see the impact of EU ETS II (covering domestic heating and transportation) when it is introduced in 2027/28.
This is why normal people don't trust experts. Everyone can look around and see the price of diesel, gas, and furnace oil go up and take up an ever expanding chunk of our paycheck. Everyone can see that the stuff we buy gets delivered on by trucks and cars and boats and planes, all of which use gas, diesel, jet fuel etc. Then silly things like this come from the uppers and we're supposed to nod along. As the saying goes, "who should I believe, you or my lying eyes?"
Individual European country carbon taxes tend not to cover the power sector, hence the marginal cost of abatement is much higher and the prospect of us seeing significant emission reductions is much lower. With the exception of Sweden and a couple of other countries the carbon taxes are very low and cover a small part of the overall economy. The advantage of cap-and-trade schemes such as the EU ETS over carbon taxes is that they specify an emission reduction and let the market work out what price is necessary to achieve that reduction. Carbon taxes are always likely to be too low to make a difference. It will be interesting to see the impact of EU ETS II (covering domestic heating and transportation) when it is introduced in 2027/28.
This is why normal people don't trust experts. Everyone can look around and see the price of diesel, gas, and furnace oil go up and take up an ever expanding chunk of our paycheck. Everyone can see that the stuff we buy gets delivered on by trucks and cars and boats and planes, all of which use gas, diesel, jet fuel etc. Then silly things like this come from the uppers and we're supposed to nod along. As the saying goes, "who should I believe, you or my lying eyes?"