Friday, March 26, 2021

Reducing greenhouse gases is a good, but doesn't create a tangible product or service so hard to pay for

One topic mentioned toward the end of Biden's March 25th 2021 press conference was the thousands of wells leaking methane. Something I wasn't that aware of. Methane, a greenhouse gas. He talked about creating lots of good jobs capping the wells. Similar to the good jobs created drilling the wells.

One problem is that drilling the wells creates a product, oil or gas, whereas capping the wells doesn't. Capping the wells reduces global warming, but there is no product to pay the bill.

Here is one of the places where a carbon tax could be used.

The normal economics for creating a good or service doesn't always work for doing something that's needed in the big picture. The big picture being protecting the climate.

1 comment:

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