The world needs a massive carbon tax in just 10 years to limit climate change, IMF says

The Washington Post

A global agreement to make fossil fuel burning more expensive is urgent and the most efficient way of fighting climate change, an International Monetary Fund study found on Thursday.

The group found that a global tax of $75 per ton by the year 2030 could limit the planet’s warming to 2 degrees Celsius (3.6 degrees Fahrenheit), or roughly double what it is now. That would greatly increase the price of fossil-fuel-based energy — especially from the burning of coal — but the economic disruption could be offset by routing the money raised straight back to citizens.

“If you compare the average level of the carbon tax today, which is $2 [a ton], to where we need to be, it’s a quantum leap,” said Paolo Mauro, deputy director of the fiscal affairs department at the IMF.

The IMF report comes out as financial institutions increasingly grapple with the risks associated with climate change, including damage from sea-level rise, extreme weather events and billions in fossil fuel reserves that might be in excess of what can be burned while also limiting warming. The Federal Reserve, for example, is taking a closer look at how climate change may pose a risk to economic stability.

Read the rest here: https://www.washingtonpost.com/climate-environment/2019/10/10/world-needs-massive-carbon-tax-just-years-limit-climate-change-imf-says/

6 thoughts on “The world needs a massive carbon tax in just 10 years to limit climate change, IMF says”

  1. YOU AINT GIVING THEM ENOUGH MONEY…..
    YOU KNOW, WITH INFLATION AND ALL……….
    HOW DO YOU EXPECT A TYCOON TO KEEP HIS LIFESTYLE??????????
    ALL YOU HAVE TO DO TO CLEAN UP “OIL FUELS” MAINLY CONCERNS REMOVING THE SULFUR DIOXIDE AFTER ITS BURNED……AND BUILD ENGINES THAT NEED NO “ADDITIVES”. STOP PUTTING SHIT IN FUEL!!
    I DONT SEE THE PROBLEM……….
    “Co2” IS NOT POISON!!

    Reply

  3. And I suppose rich celebs with their private jets–and “rock star” preachers like Kenneth Copeland and Creflo Dollar–all get passes on this one….When Greta Doofus gets her own private jet after Soros, Alyssa Milano and the rest of the Hoillywood-hypos pay her millions to spew their garbage, let me know.

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  5. Funny how they never want to explain how adding a huge tax to the burden is going to help the environment. They don’t care one whit about the environment, like taking our guns, this is ALL about control

    Reply

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