Wednesday, April 10, 2024

Think carbon tax, not cars.

"US power consumption will rise to record highs in 2024 and 2025, the US Energy Information Administration (EIA) said." Reuters. "Electricity production in United States reached 379,799 GWh in Jan 2024," compared with 129.449 GWh in Mar 2024 in India. CEIC. In India, fossil fuels contribute 56.8%, coal's share being 49.1%, of our total installed capacity of electricity production, renewable energy sources provide 41.4% and nuclear production contributes 1.6%. Ministry of Power. Fossil fuels produce greenhouse gases, which are causing climate change, and pollution in our cities, causing illnesses and premature deaths. With a 7% share in greenhouse gas production, India comes fourth in the world behind China with 30%, the US with 15% and the EU with 9%. epa.gov. The good news is that, "India's greenhouse emissions rate dropped by a faster-than-expected 33% in 14 years as renewable energy generation rose and forest cover increased," which "should help India avert pressure by developed nations to stop using coal." Reuters. "In 1990, Finland was the world's first country to introduce a carbon tax. Since then, 20 European countries have implemented carbon taxes, ranging from less than 1 euro per metric ton of carbon emissions in Ukraine to more than 100 euros in Sweden, Liechtenstein, and Sweden. Tax Foundation. "On October 1, the EU kicked off the initial phase of a Europe-wide tax on carbon on imported goods." This is to protect European industries from cheaper goods from other countries but, "Europe's experiment could have ripple effects across the entire globe, pushing high-emitting industries to clean up their production and incentivizing other countries to launch their own carbon taxes." The Wire. India has the extra problem of having the largest population in the world at 1.44 billion people (Worldometer) packed into a relatively small area. "The world's most populous nation is more poorly endowed with farmland per capita than Greece or Algeria. That is going to make life harder as a fast warming planet destabilizes the cycles of rain and sunshine that have kept the Indian subcontinent fed for millenia," wrote David Fickling. "Of the 30 most polluted cities in the world, 21 were in India in 2019." "51% of the pollution is caused by industrial pollution, 27% by vehicles, 17% by crop burning and 5% by other sources." wikipedia. Biomass burning and industrial activities contribute 82% of PM2.5 emissions in India. Vehicles contribute only 7%, slightly higher in cities, wrote Chandra Bhushan. Biomass is used by the poor so politicians have shifted the blame solely on cars. The government wants at least 30% of cars to be electric by 2030. ABP. However, batteries comprise half the cost of electric cars (ET) and will have to be replaced every 5 years or so. No one will buy a second hand electric vehicle because the battery will have been used. Since China produces 80% of electric car batteries so our money will be transferred to China. iea. Indians will be losers. Again.

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