[OP-ED]: Two cheers for a carbon tax

 02/19/2017 - 20:55

Fossil fuels now supply four-fifths of the world’s energy, a share that has dropped only slightly since 1990. To stabilize CO2 concentrations, we must essentially stop burning fossil fuels. How is this to happen? Supporters of a carbon tax hope that the market mechanism -- higher prices for fossil fuels -- will unleash a torrent of innovation: safer nuclear, less costly solar, better batteries. This is a leap of faith. Higher prices do not guarantee technological breakthroughs.

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