Carbon Taxing : Moving Towards An Efficient Economy

Majority of carbon dioxide is released from big corporate companies and once this policy is implemented, they’ll start to look for alternative, more green sources of energy. Secondly, initiative from citizens is important as well. When residents start supporting locally grown food, using fuel-efficient vehicles or taking the public transit, it drastically reduces our carbon footprint. Lastly, it’s important to commercialize green energy. Although there are many smart companies like Tesla or First Solar, they are not enough. Coal or coal-reliant technologies are prevalent in our communities and therefore, generate the most profit. Therefore, if green technologies become more accessible to the general public, it’ll lead to the growth of this

Stewart Elgie, a University of Ottawa law and economics professor and chair of the green economy think-tank Sustainable Prosperity suggests that British Columbia’s per-capita fuel usage had fallen more than 4 per cent compared with the rest of Canada and its economy (Ebner, McCarthy, 2011) Evidently it is reducing the amount of green house gasses emitted by fossil fuel use. However this is not the concern many had with the introduction of the tax, but the concerns were focused upon the externalities caused by this and the effects it would have on the economy. Three years since the carbon tax introduction and the Provincial level of GDP has remained approximately the same, (Greenery in Canada: We have a winner) With the provincial level of GDP remaining around the same, this suggests that at the very worst the carbon tax has had no negative effects to the provincial economy. Furthermore the tax also promised to remain carbon neutral and promised to cut corporate and private income tax. British Columbia has become the province with the lowest income tax regime and the lowest corporate tax regime (Greenery in Canada: We have a winner). Although the carbon tax is being praised by many, it still faces concerns as many still argue the ineffectiveness of the tax and what that means for the province.

The “Cap-and-Tax” program will be a mixture of carbon taxing and a cap-and-tax system. At the start of the year, the government will put a cap on the carbon emissions a company can produce for the year, then space can be auctioned around. Then, throughout the year, the government will tax the company on their emissions, but not as severely as a solely carbon tax system.

For the last two decades, the increased use of fossil energy caused the environmental problems. The evidence of global warming, like drying rivers, extinction of species, melting of glaciers, became more often around the planet. The climate change became a threat to healthy environment and prosperity of humanity and wildlife, and the world community started searching for solution to combat climate change. In 2008 British Columbia introduced carbon tax on greenhouse gas (GHG) emissions to reduce global warming. Starting from $10 per tonne of CO2, the price was increasing annually till it reached $30 per tonne in 2012. During that period British Columbia was reducing harmful emissions and improving economy comparing to the rest of Canada. However, since the price rise on carbon stopped in 2012, no improving changes in cutting emissions, economy, and overall quality of life have been noticed. In this essay I will persuade that British Columbia should continue gradually increase price on carbon tax to the level where it will significantly cut the use of dirty energy, provide enough investments into the green projects, and support low-income families.

Carbon taxing coal-based products, in a revenue-neutral way, will help discourage overuse of fossil fuels. The United States needs to reduce carbon emissions in order to avoid the costs that pollution and climate change inflict on the general economy and individuals. Carbon, unlike other commodities exchanged and consumed in the free market, bears unique costs to the general economy that its market price does not encompass. The pollution we create when we consume carbon contaminates our air, raises temperatures, and makes severe weather events more frequent. A carbon tax is an economic mechanism that forces actors in a free market to come face-to-face with the social cost of

Climate change is becoming a major issue in Canada and in order to reduce the impact global emission needs usage to start dropping as soon as possible. Therefore, a carbon tax levy has been recently implemented in Alberta. The tax is based on greenhouse gas emission caused from burning fossil fuels. The main reason the province is enforcing Carbon tax is to potentially reduce emission which will develope a change in our climate. B.C has implemented the Carbon tax levy since 2008, and has seen a positive outcome thus far.

Government enacted solutions are probably the most effective ways to reduce carbon emissions and to control pollution since unfortunately the majority of individuals mainly act to their own self-interest and are not concerned with the future of the planet. This is a prime example of the tragedy of the commons, which is the exploitation of a common resource. In this case the common resource is the atmosphere. The first method proposed is the carbon cap trade system. The term cap means the limit or the maximum of the amount of pollutant to be emitted. A trade refers to the transfer of permits that have to be bought by firms that need to increase their volume of emissions from firms that require fewer permits 1. The carbon tax method is a tax on the carbon content of fuels — effectively a tax on the carbon dioxide emissions from burning fossil fuels 2. So, which system would be best for the government to enact to reduce carbon emissions in the atmosphere?

In Australia, there is an emerging consensus that the government should take further actions to help mitigate and combat climate change. The current most accepted policy by government is the introduction of a carbon tax followed by an ETS in 2015. However we are focusing on the carbon tax in this essay and not the ETS. Here is a brief explanation of the dynamics of a carbon tax. A carbon tax is a tax on energy sources, which emit carbon dioxide (Co2). Therefore, carbon taxes address the problem of negative externality. Externalities are the subsequent effects when individual production or consumption of a particular good or service imposes costs or benefits on others. Therefore negative externalities are effects, which pose harm to others without their direct interaction (Basic Economics 2011). However, usual market practices and transactions do not reflect these cost and benefits in the prices involved in the transaction, or take into account in their transaction decision. Therefore this is a form of market failure. By imposing a cost on these negative externalities, the hidden cost can be addressed. Ultimately the purpose of a carbon tax is to reduce emissions of carbon dioxide and therefore reduce

In February 2011, the Australian federal government declared a scheme to implement a Carbon Tax from July 1, 2012. Implementing this scheme has generated a controversial debate between Australians. The term “Carbon tax” refers to an environmental tax forcing polluters to pay per ton of carbon which they release into the atmosphere. This essay will provide the economical, social and political implication of carbon taxes, also with its introduction who will benefit and who would suffer.

However, the Gillard government has instituted one fairly radical and controversial policy: the new imposed carbon tax which took effect on July 1, 2012. The tax requires 500 of Australia's top polluting companies to "pay a fixed price, starting at Aus$23 per tonne, for their carbon dioxide emissions for the first three years. The mechanism would then shift

Everyday in U.S., immense amount of fossil fuel is burned. Fossil fuels are fuel formed by natural processes, such as decomposition of buried dead organisms. Fossil fuel release carbon dioxide when they are burned which adds to the greenhouse effect and increases global warming. The way we can help the environment and reduce the amount of carbon dioxide is by replaying fossil fuels with solar and wind sources for electric power generations in the U.S.

4) The carbon tax and cap and trade is where they try to use less chemicals in the air so it helps with the pollution in are air. It has also help stop some of the carbon dioxide that is giving into global warming that is happing on this planet. Economist favors the carbon tax because they use less chemicals in the air. They also like this method better because it would cost less time to do and they would enforce the carbon tax with all the companies that produce carbon

Since the beginning of the industrial revolution machinery and surface temperatures have been on the rise. Some may argue that the increasing temperatures are strictly due to the rise of machinery and less strict efficiency standards. The U.S has been debating what methods are efficient for combating increasing emissions some argue that a carbon tax has many positive impacts some say if one were to be adopted they would need reforms. This paper will dive deep into the the effects of climate of change and whether or not a carbon tax can fully help to decrease these emissions.

CO2 is the most significant greenhouse gas, which mainly comes from the use of fossil fuels. Many people feel that content of CO2 in the atmosphere is the main reason for manmade global warming. The main sources of CO2 emissions involve electricity generation, industrial processes, fumes from transportation and commercial buildings and use. Emissions of greenhouse gases, such as CO2, to the atmosphere are expected to cause even more of a significant change in global climate (Davison, 2007). The main focus to try to reduce the amount of carbon dioxide in the atmosphere is to reduce the amount that is released from coal-fired power plants. Greenhouse gas emissions that involve the productions of electricity come from natural gas production and coal-fired power plant operations. Natural gas production accounts for twenty-four percent and coal-fired power plant operations accounts for seventy-five percent, while the other one percent is caused by other electricity generation operations. The main reason why coal-fired power plants have a higher percentage of emissions is because the sulfur content of coal is much higher than that of other fossil fuels (Jarmaillo et al., 2007). This proves that there is a great need to find an alternative fossil fuel to use instead of coal. Although coal is easy to mine, transport and process for the electricity generation process, it is also the

The most of global energy production produces from fossil fuel such as coal, oil and natural gas. The vast fossil fuels generate energy which use for many purposes for instant residential, transportation and industrial sectors. While the rate consumption of fossil fuel higher than their formation leads to oil price crisis. Another concern of fossil fuel combustion is the impact on the environment. Global warming is a significant problem which results in increasing concentrations of greenhouse gas in the atmosphere. These problems drive researchers and societies to search alternative energy such as switching to renewable energy or carbon-free energy to replace fossil fuels. For example Nakata et al., (2011:465) show ‘low-carbon society’