B.C. put a price on carbon. What happened next will surprise you
Sustainable Prosperity, a research and policy institute that measured the tax’s impacts, reported that the policy reduced fuel consumption seven times more than if the price of gas had naturally increased by the same amount due to market fluctuations. The tax drove consumption down not just by pushing gas prices up, but also by raising awareness about why we need to reduce reliance on fossil fuels.
All that happened in the span of just five years.
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