article thumbnail

MIT study suggests carbon tax could help reduce US deficit, lower other taxes, reduce emissions

Green Car Congress

A new report from MIT’s Joint Program on the Science and Policy of Global Change suggests that a tax on carbon emissions could help raise the money needed to reduce the US deficit, while improving the economy, lowering other taxes and reducing emissions. They found that the tax would raise $1.5

Tax 312
article thumbnail

Study finds limiting warming to 2 °C would require at least a $200/t carbon tax globally

Green Car Congress

The social cost of carbon has become the standard measure to benchmark the magnitude of the carbon taxes needed to implement optimal carbon policy. If we were able to measure this social cost accurately, standard Pigouvian logic tells us that the optimal tax should be such that the price of carbon is equal to this social cost.

Tax 397
article thumbnail

Growing Number of EU Countries Levying CO2 Taxes on Cars and Incentivizing Plug-ins

Green Car Congress

At present, 17 of the 27 EU Member States levy CO 2 -related taxes on passenger cars, and 15 governments provide tax incentives for electrically chargeable vehicles, according to the newly published European Automobile Manufacturers’ Association (ACEA) Tax Guide 2010. Generally, registration taxes threaten fleet renewal.

Tax 268
article thumbnail

Researchers develop titanium and copper heterostructured photocatalyst for conversion of CO2 into CH4

Green Car Congress

The escalating carbon dioxide (CO2) emissions and the consequent acceleration of climate change are alarming, and it has proven challenging to find feasible ways to actively reduce the concentration of CO2 in the atmosphere. —Prof In. 2020.119344.

CO2 324
article thumbnail

T&E: Rising use of private jets sends CO2 emissions soaring

Green Car Congress

T&E calculates that a jet fuel tax applied proportionately to flight distances could raise €325 million if applied to all flights departing from the EU and UK. European policymakers need to urgently start taxing fossil-fuel powered private jets and ban their use by 2030.

Emissions 418
article thumbnail

BMW CEO urging tax subsidies for electric vehicles in Germany to bolster sales

Green Car Congress

BMW CEO Norbert Reithofer is calling for tax subsidies in Germany to help meet the federal government’s target of having 1 million electric cars on the road in eight years. for example, the tax law.”.In In Europe, the EU Commission wants to reduce CO2 emissions dramatically. Financial Times Deutschland.

Tax 250
article thumbnail

EIA: CO2 emissions from US power sector have declined 28% since 2005

Green Car Congress

This growth has been driven largely by state policies and federal tax incentives that encouraged adoption of renewables. Increases in electricity generation from noncarbon power sources since 2005 also had an effect on emissions from power generation. In 2005, noncarbon sources accounted for 28% of the US electricity mix.

2005 414