The Stern report says the economic damage done by CO2 emmisions is 85 USD per ton. I found a web site somewhere that says a car diesel engine emits 2.75 kg per litre of diesel. (I think petrol was about 15% lower - didn't really check as I have a diesel car.) Using these figures and the FTs currency convertor, I am compensating society for my consumption if I pay 12p per litre in tax.
I can't be bothered to look up the exact level of fuel tax, but I think we are due something like a 75% reduction.
I can't be bothered to look up the exact level of fuel tax, but I think we are due something like a 75% reduction.
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