Carbon tax funded research starting to pay dividends

[Trakar]

Carbon tax funded research starting to pay dividends
Carbon tax funded research starting to pay dividends - Fort Saskatchewan Record - Alberta, CA

Many people don’t know Alberta charges a $15 a tonne emission tax on large industrial emitters, and even fewer know what happens to that money.

That pool of cash, now up to $170 million, is helping to fund 32 research projects aimed at finding ways to help the province reach its goal to reduce greenhouse gas emissions by 200 mega tonnes by 2050.

“It’s important to note the funds don’t go to the government’s general revenues. It goes to an arms-length organization to be administered. That’s written into the legislation,” said David Lewin, vice chair of the Sherwood Park based Climate Change and Emissions Management Corporation.

CCEMC is the body that handles the pool of money since it was established in 2009 and backs research in carbon reduction technologies. The research is co-funded by industry, which has stepped up to expand CCEMC’s pool of funding to $315 million...
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I favor carbon taxes, but would rather tax the fuel than the emissions. It is interesting to see programs like this producing good results. Let's see, if a ton of coal produces about 3 tons of carbon dioxide, depending on the type of coal and how its combusted. at the above prices that would equal about 45$ per ton of coal which is very close to the 50$ per ton of coal that I have long argued for as an initial standard carbon tax. I also like the idea of a seperate non-governmental body acting as the recipient and administrator of the carbon tax funds. Personally, I've advocated for a Carbon bank that would divide the funds between research and corporate/private loans/investments towards alternative fuels and energy efficiency technologies.