this post was submitted on 05 Nov 2023
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And here is where the author makes a crucial mistake in my opinion. When the poorest are forced to turn down their heating, then the middle class gets spooked they might have to as well in the future. They will vote for scaremongers and climate change deniers, and in the end your noble project of pricing oil out of the daily lifes of people will fail.
He should have added the caveat that global price instability is causing most of that pain. The carbon tax is only a small component.
But also, the middle class can afford heat pumps. So they will never be in such a situation.
And also also, turning the thermostat down one or two degrees saves a lot of money and is healthier and more natural.
Sure, some people get spooked, but that's mostly due to fear and uncertainty, not due to facts.
Anyway, the author does make two mistakes: ignorance about nuclear and unrealistic expectations about the future revenue of carbon pricing.
As the price goes up, revenue will go down, as less people emit carbon.
Nuclear is not going to happen. Not without governments deciding to fund plants 100% up front. The economics just don’t make sense.
Not anymore.
You must be living in a different reality.
Even Japan is restarting their nuclear plants, while Fukushima is still in living memory.
Restarting is fast and cheap.
Building takes a decade and another one before you break even. How positive are you that you will be able to operate that plant until the end of its economic life?
Are you willing to bet a few billions on it?
But they have the preexisting infrastructure and support network for it.