High oil and gas prices are giving an unappealing taste to what global carbon prices can be.
Fuel pump price reach $5 a gallon just one of the most visible examples of the growing cost of fossil fuels. The war in Ukraine and subsequent worries about shortages have directly impacted emissions prices, just like global carbon price will. Such a pollution tax has long been an economist’s dream, but the recent squeeze on consumer incomes shows why it can also be a nightmare for consumers. Politicians.
