Quote:
Originally Posted by Azure
But wouldn't we need to accept the fact that high priced oil is probably going to lead to a lot more investment into oil?
To me that is why the carbon tax could work so well. High priced oil? Good for you, but find a way to extract it with less emissions and you pay less taxes.
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Yes, but also into oil alternatives.
It also means investment will be in expanding production. Low cost oil means we will invest into technology to more efficiently extract oil at the existing price making oil more resistant
High costs will also increase demand for electric and smaller vehicles. It also reduces Miles travelled.