One weird trick to fix climate change: Close the offshore wealth loophole

“When you have big, powerful oil and gas firms that are also backing a carbon tax, that should be a signal that the ideal conditions under which such a policy could function will likely not materialize, because these interests are very powerful, and they’re so entrenched in the governments that are trying to regulate them.”

“If you try to isolate how much emissions fell because of the EU’s Emissions Trading System, estimates have only placed it at around one to three percent per year, which is not a lot.”

A simpler, more useful way to tax carbon

“Kaufman and his co-authors propose an alternative design framework for a carbon tax: a near-term to net zero (NT2NZ) approach.

In a nutshell, rather than asking what the optimal carbon price is in some econo-metaphysical sense, the approach begins by asking: Given other policies in place and a reasonable set of assumptions, what price on carbon is required to drive emissions to net zero on schedule?”