As is usual with these things, the article is padded with pointlessness. We're told Today, according to the World Bank, 42 countries and 25 subnational jurisdictions—together representing about half of global GDP and a quarter of global greenhouse gas emissions—have imposed or are pursuing a price on carbon, through either a cap-and-trade system or a carbon tax. Which is meaningless, because you can't tell the fraction that are doing things with the fraction that are just thinking about it. More useful is But because many jurisdictions have imposed carbon prices just in certain sectors of their economies, carbon pricing covers only about 15 percent of global emissions. But that too isn't really useful, because it doesn't tell you at what level they are priced. Rather more useful, but dislocated in the article, is of the global emissions now subject to a carbon price, just one percent are priced at or above the [High-Level Commission on Carbon Prices]’s $40 floor of ecological relevance. Three-quarters are priced below $10 (the article, like so many, isn't logically structured; instead it looks to have been built around quotes taken from different reports).
Finally, there is the economic stupidity: Nor does carbon pricing work well to curb emissions from transportation, which account for about 14 percent of the global total. Studies show that drivers are usually unresponsive to modest increases in gasoline and diesel taxes. Or, put another way, people value their cars above the money they cost, so unsurprisingly they still use them if they cost more. Which is why an economy-wide carbon tax is a good idea: people can shift their spending away from stuff they value less; we could achieve a carbon reduction with less pain.
Later down the article there's a bit about why the ETS is stupid. Nowhere though does it attempt what could be the interesting discussion: just why is it so hard to get carbon pricing through a political system? Don't reply with oh-but-evil-oil-companies-propaganda schtick; that's just an excuse. The real answer is that on carbon pricing, like a great many other things, our political systems just don't work very well. When put in that way, most people's response is to think of clever ways to change them, despite our long experience that any such jsut gets bogged down in the sand of the existing system. Personally, as long-term readers will know, my solution would be to have less of it.
My picture shows Pembroke before going down to Clare on the Reach, and a distant Maggie. See the bumps post for more. Mine is a GoPro still; there are a zillion higher quality pix, e.g. from here.
* Horrible Facebook Algorithm Accident Results In Exposure To New Ideas.
* Taxing carbon emissions protects liberty, spurs innovation.