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The Carbon Tax

Updated on August 17, 2011

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The Price Is Right: The Carbon Tax

 The Carbon Tax

Hmm Hmm Hmm … Carbon Tax… A dirty phrase. But maybe a necessity to protect the over consumption of our fossil fuels and slow down the potential disaster induced by global warming.

Is there a way in which industry and the consumer could be made happy by reducing the emissions? Imposing a carbon tax but provide incentives at the same time may just work.

Let’s look at it from the consumer’s point of view. Consumers should have a “say” in what source the power is generated from for their needs. If a consumer wishes to have their electricity generated by alternative green energy sources, then they wouldn’t have to pay any carbon tax. If a consumer main source of power comes from the dirty fossil fuel -- coal, then a tax – possibly a fairly hefty one will be imposed. The cleaner the fuel source, the less the carbon tax will be.

Now, what about the industry’s point of view? The government will impose a carbon tax on them as well. Oil, gas, and coal companies will be taxed according to the fuel they sell. If they continue to sell the highly polluting greenhouse fuels they would be taxed heavily. If they decide to also work on the alternative green fuels—solar, wind and geothermal – they would be taxed much less.

We would do away with the subsidudies that the oil, gas and coal industry receives from the government and replace it with a carbon tax. But we will add incentives as well. If these companies invested in the green industries they would receive grants from the government for reinvestment.

Any new companies involved in producing a “green” industry will receive incentives as well in the form of grant money.

This will help society gradually be “weaned off” from the fossil fuels and reinvest in the alternate energy sources. Hopefully both companies and consumers will buy into the new incentives and carbon tax scheme. It will reduce greenhouse gas emissions and reduce the consumption of non-renewable resources.


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    • CHRIS57 profile image


      7 years ago from Northern Germany

      Actually what you write is the European approach. Taxation of fossile fuel, at least when used in individual or public transport is heavily taxed. While Americans moan on 3 to 4 US/gallon gas price, in Europe price is more than double. Only because of tax burdon on gas.

      For electric power it is not even necessary to raise a carbon tax to create incentives. Just pass legislation to directly subsidise green energy by transfering earnings from fossile or nuclear energy production. That is happening already.

      Countries like Denmark or Germany are already on the way to shift incentives to green energy. When oil prices hit record highs some months ago, Europe suffered much less than the US.


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