That is an approach, but a plan would detail how much the carbon tax needs to be and how rapidly that will impact fossil fuel usage.
I'm not opposed to some carbon tax, but it would have to be "painful" in order to be even moderately effective.
The Effect of a Gasoline Tax on Carbon Emissions | NBERTheir preferred estimates imply that a 10 cent tax increase would decrease U.S. carbon emissions from the transportation sector by about 1.5 percent and decrease total U.S. carbon emissions by about 0.5 percent. To put this estimate in context, total U.S. carbon dioxide emissions increased by 1.1 percent annually between 1990 and 2007, so a 10 cent gasoline tax increase would approximately offset half a year of growth in total U.S. emissions.Under Biden's Plan, Energy Prices Go Up, And That's The Point - American Energy Alliance
Under Biden's Plan, Energy Prices Go Up, And That's The Point - American Energy AllianceA $20 per metric ton carbon tax equates to a 16.6 cent per gallon surcharge on gasoline. In 2022, the $50 per ton carbon tax would increase Canadian gasoline prices by about 42 cents per gallon or about 8 percent. The price of coal in 2022 would more than double with a carbon tax surcharge of about $100 per metric ton. Natural gas prices would increase by about 10 cents per cubic meter in 2022 compared to
current prices of around 13 cents per cubic meter—about a 75 percent increase.
Canada expects the carbon tax to increase the demand for carbon-free electricity. In 2019, however, Canada generated
58 percent of its electricity from hydroelectric power, 15 percent from nuclear, and 7 percent from renewable energy. Only 18 percent of its electricity came from fossil fuels—coal, oil, and natural gas. The majority of Canada’s carbon dioxide emissions are not from the generating sector, but from the industrial sector, which is subjected to
an Output-Based Allocations system (similar to cap and trade).
Those carbon taxes, which at $50 per metric ton seem rather large, are insufficient for the country to meet its emission-reduction targets under the Paris climate accord. Canada’s parliamentary budget officer says the country’s carbon tax would have to increase over the coming years to meet emission-reduction targets. Canada’s budget officer, Yves Giroux, estimates the tax will have to
increase to $117 per metric ton by 2030 if it is applied to all industries. And, if the government caps the tax at $50 per metric ton for large industrial emitters, households and other sectors of the economy would have to cover the difference, requiring a tax of $289 per metric ton in 2030.
