Carbon tax is a levied tax on carbon content of hydrocarbon fuel like coal, petroleum and natural gas from everyday use. Combustion of hydrocabon release Carbon Dioxide (CO_2).
Emission of CO (Carbon Monoxide), a heat trapping "GreenHouseGas" GHG released during fossil fuel combustion has negatively impacted the climate resulting to global warming.
There is definitely a correlation between the combustion rate and the carbon content of both CO_2 and CO released as they are on the increase.
Emission tax can however be levied on the fossil fuels carbon content. Carbon tax offers social and economic benefits.
1) It increases revenue without altering the economy while
2) Simultaneously promoting objectives of the Climate Change Policy.
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