The socialistic Green New Deal, pushed by New York Rep. Alexandria Ocasio-Cortez and winning broad support from Democratic presidential candidates could lead to a $10 increase on a single gallon of gas, according to a new study of the so-called “carbon tax” and the liberal bid to rid vehicles that burn fossil fuels.
The CO2 Coalition’s study mostly focused on the government’s effort to assign an environmental price on the future “Social Cost of Carbon,” also looked at the ultimate goal of liberals to rid gas-powered autos, a key to the Green New Deal.
Executive Director Caleb S. Rossiter said the study calculated what it would cost to get people to trade their gas-powered cars for electric vehicles.
“Obviously we are not going to martial law, so how do you get people to switch?” he said. “They’re not going to grab your car by force, so you have to discourage the use.”
The result: A $10 per gallon gas tax and final price of some $13, or about the cost of shifting to EVs, about $2,700. “That is the economic breaking point of driving gas-powered cars,” he said.
The author of the study, Bruce Everett, formerly an economist at the Department of Energy and currently a professor at Tufts University’s Fletcher School, said that the carbon tax “would have to rise to $13 per gallon in order to make electric cars desirable to consumers.”
He plans to explain his findings from the report, titled The Social Cost of Carbon and Carbon Taxes ‘Pick a number, any number’ Monday at a noon to 1:30 p.m. event in Room 385 of the Russell Senate Office Building on Capitol Hill.
Rossiter said that such a high tax “would destroy the economy” and ignore the benefits of carbon in the atmosphere, a key argument of the CO2 Coalition.
Their report also said that the Social Cost of Carbon calculation is so broad that it can be easily manipulated. It also looks out over 280 years to judge the impact of continued carbon use, which the authors said is silly and impossible to predict.
Read more at Washington Examiner
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