Guest Column: The Psychotherapist with Fur and Four Legs!  |  Health Monitor: Dealing With Post Covid Syndrome  |  National Edu News: Secretary Higher Education urges students to emerge as job creators  |  National Edu News: PM addresses the 18th Convocation of Tezpur University, Assam  |  Leadership Instincts: Experts highlight the need for strengthening centre-state cooperation  |  Policy Indications: India’s global position rises both in innovations & publications  |  Education Information: Written Result of Indian Economic Service/Indian Statistical Service Examination  |  National Edu News: AstroSat’s Ultraviolet Imaging Telescope spots rare ultraviolet-bright stars  |  Parent Interventions: Randomized trials could help to return children safely to schools   |  Parent Interventions: How fellow students improve your own grades   |  Parent Interventions: School-made lunch 'better' for children  |  Teacher Insights: Second Anniversary of India Science, Nation’s OTT Channel  |  Leadership Instincts: Participation of MGIEP in the Implementation of NEP 2020  |  Teacher Insights: World of Puzzling Patterns  |  Education Information: HKUST Collaborates with Hang Lung to Foster Young Mathematics Talent  |  
October 25, 2019 Friday 12:30:16 PM IST

Carbon Tax to Give Equally Good Results as Other Climate Policies

Alexas Photos for Pixabay.com

Introduction of carbon tax can help reduce harmful emissions much better than any other climate change policies, according to a a study by Christopher Knittel, MIT Sloan professor.  According to him, a modest tax of $7 per metric ton of carbon dioxide in 2020 can reduce emissions by the same amount as the flagship climate policies adopoted by the Obama administration.

He has modeled the carbon price needed to achieve projected emission reductions under three Obama-era policies: auto mileage standards, the Clean Power Plan, and a biofuel mandate. All three have been challenged or rolled back in court or by President Donald Trump’s administration.  “This shows the power of a price on carbon,” Knittel said. “As little as a 7-cent price increase per gallon of gasoline and less than half a penny per kWh of electricity could get us the same climate benefits as the fragile, costly, and litigious regulations that represent President Obama’s climate legacy.” 
A carbon tax that increases over time – something all three bills in Congress would do – could reduce emissions by the same amount as all of those regulations combined. 
“We’re still only looking at $22 per ton in 2025 and $36 per ton in 2030 if we include all major greenhouse gases,” Knittel said. “If we get really serious about climate policy, the costs will only rise, and the cost-saving potential of carbon pricing will become even more important.”



Comments