Fossil fuel are getting progressively harder to produce, since easily accessible oil and gas fields were the first to be exploited, and are (soon to be) depleted, leaving hard to reach ones. So they’re getting more expensive even without taxing them.
Renewable sources are getting progressively cheaper.
The EU is planning to enforce CBAM soon, and other may follow and tax import from country that have 0 carbon tax.
So even if they’re not motivated for dumb political reasons, they’re going to feel more and more financial pressure.
Not surprising. The US is a petro state. It will never want to switch to something else. China and the EU are far more motivated.
Fossil fuel are getting progressively harder to produce, since easily accessible oil and gas fields were the first to be exploited, and are (soon to be) depleted, leaving hard to reach ones. So they’re getting more expensive even without taxing them.
Renewable sources are getting progressively cheaper.
The EU is planning to enforce CBAM soon, and other may follow and tax import from country that have 0 carbon tax.
So even if they’re not motivated for dumb political reasons, they’re going to feel more and more financial pressure.