New study slams costs of proposed carbon tax

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Those concerned about global warming have recently been pushing the idea of a new tax on carbon emissions. But according to a recent study by the Heritage Foundation, such a carbon tax would cause serious economic harm without even making a dent in global emissions. Citing government data, the study points out a carbon tax would raise family energy prices by more than $500 per year, jack up gasoline prices 50 cents per gallon, reduce family income by nearly $2,000, and cost 1 million jobs by 2016 alone. Since developing nations like China and India will continue increasing their CO2 no matter what the U.S. does, a carbon tax is a bad solution to a still-unproven problem.

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CFACT defends the environment and human welfare through facts, news, and analysis.

One Comment
  1. jameshrust

    The purpose of the carbon tax is to raise the price of energy from sources that use fossil fuels so the prices of energy from renewable energy sources such as wind, solar, and biofuels will be competitive. However, proponents of a carbon tax don’t understand it take energy to make renewable sources. So as the price of energy from fossil fuels increases, the prices of renewable energy sources also increase. It is likely, in particular with ethanol from corn, that the rise in cost of fossil fuel energy will never be high enough to make the renewable energy source competitive. Because ethanol from corn requires so much fossil fuel energy in its production, it is unlikely a carbon tax will ever make it competitive with gasoline it is touted to replace. Remember, the energy content of a gallon of ethanol is only two thirds the energy content of a gallon of gasoline.
    If the carbon tax succeeds in its mission of eliminating use of fossil fuels, the United States will be saddled with a host of renewable energy sources that are uneconomical, impractical, and unreliable. We will end up with a lifestyle similar to the passengers of the Carnival ship Triumph who had to live five days without electricity or any other power source on their cruise. The life is not pleasant.
    The public needs to be made aware of these hazards as government leaders propose carbon taxes to satisfy their missions of ruining the country.
    James H. Rust

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