Five Questions About the Carbon Tax

1.   What action has Exxon taken to promote a carbon tax?

They endorsed the CLC proposal and are putting up $1 million to lobby for it. 

2.  How does this article define a carbon tax?
-" a per-ton tax on the carbon dioxide emissions embedded in fuels or other products."

3.  What would be the predicted impact of a $50 per ton carbon tax?

"The tax would ultimately cover more than 80 percent of the economy’s total greenhouse gas emissions." and "emissions fall 39 to 46 percent below 2005 levels by 2025, putting the US well ahead of its pledged Paris goal of 26 to 28 percent by 2025. "

4.  How expensive would the tax need to be to reduce emissions by 80%?
It would need to exceed $100 per ton.

5.  Which industry would be most impacted by the implementation of a carbon tax?

Electricity would be most affected.

6. How would the carbon tax impact the transportation industry?
"...without commercially available liquid-fuel alternatives, the only way to reduce emissions quickly is to drive less, and driving behavior has proven resistant to price pressure."

7. Why is the carbon tax likely to be a regressive tax?

Since " It hits the poor harder than the rich because the poor spend a larger percentage of their income on energy services" it is regressive.