under the kyoto treaty. the tax would be levied on producers and importers of fossil fuels and raise the cost of using fossil fuels. how do most economists view a tax such as this?

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destinycrystal580 destinycrystal580

10-11-2022
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under the kyoto treaty. the tax would be levied on producers and importers of fossil fuels and raise the cost of using fossil fuels. how do most economists view a tax such as this?

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kumarravichandra kumarravichandra · Answer 1 · 2022-11-16T12:49:09+01:00

It is possible to internalize the costs of the detrimental effects on our health, the environment, and future generations by placing a monetary price on carbon emissions, which is what economists refer to as an externality.

The harm caused by burning fossil fuels is a classic example of an externality. It is possible to internalize the costs of the detrimental effects on our health, the environment, and future generations by placing a monetary price on carbon emissions, which is what economists refer to as an externality. The harm caused by burning fossil fuels is a classic example of an externality.

Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Czech Republic, Denmark, Estonia, European Community, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Monaco, Netherlands, New Zealand, Norway, Poland, Portugal, Russian Federation, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, United Kingdom of Great Britain were among the nations that signed the 1997 Kyoto Protocol treaty.

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