this post was submitted on 15 Feb 2024
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Carbon credits should instead be a tax - one that every major corporation has to pay based off their carbon emissions, and the funds should be used exclusively to fund renewable energy sources, renewable goods manufacturing, and to repair the damage done by traditional fuels.
Money being fungible, its all functionally the same. But our business-friendly government officials tend to be stingy with taxes and generous with credits. So its politically more expedient for the legislature to offer large bounties on plugged pipes than to pass a large penalty on unplugged ones.
That's because of a little thing called "kickbacks" which keep the whole engine of publicly funded commerce running. My carbon capture credit becomes your campaign donation becomes next years "My rival punched a baby" screamer news ad plus hush money for the mom of the baby I punched six months ago.