Benjamin Zycher of the American Enterprise Institute writes against a carbon tax:

The GHG tax supposedly is a climate policy. But the proponents of GHG policies never tell us what impacts on the consequences of climate change are to be expected from implementation of GHG taxes, subsidies, and regulations. If we apply the Environmental Protection Agency climate model, and if we incorporate assumptions that exaggerate the future climate effects of reductions in GHG emissions, the Biden net-zero policy would yield a reduction in global temperatures of 0.173 degrees Celsius by 2100. The proposed GHG tax would yield only a portion of that trivial number. International efforts to reduce GHG emissions similarly would have very small effects. In short, a GHG tax, like almost all seemingly plausible climate policies, would be all costs and no benefits.
Watchful waiting and adaptation over time are the only climate policies that make sense scientifically, economically, politically, and in terms of the preservation of freedom.

David Bahnsen is joined by Oren Cass on this week’s episode of the Capital Record.