When a politician talks about establishing a price on carbon in the name of stopping global warming (as federal Liberal Leader Justin Trudeau frequently does), what he really means is he wants to tax oil production, manufacturing and private vehicle use in the hope that by punishing energy companies, manufacturers and drivers he can force them to reduce their emissions.
However, no market exists for carbon emissions except where governments force companies to buy or sell “carbon credits.” Therefore, there is no such thing as a natural “carbon price.” The concept is entirely artificial.
Admittedly, Europe has a carbon exchange, but it’s not a real marketplace like a stock exchange. It wouldn’t exist if the EU’s commissioners hadn’t dictated that companies put a price on their emissions and pay extra for emissions above their mandated limits.
Even after all of that, the price for a tonne of carbon on the European exchange is a fraction of what EU planners projected it would be. The only people who make money consistently are clever profiteers who have learned how to apply for “green” subsidies. And the whole thing is prone to corruption. — Full Story at Cornwall Standard Freeholder —