• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 4 hours In a Nutshell...
  • 5 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 2 hours Is OilPrice a cover for Green Propganda
  • 6 hours Putin Paid Militants to Kill US Troops
  • 2 hours Why Wind is pitiful for most regions on earth
  • 2 days Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
  • 21 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 2 days Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 10 mins Joe Biden to black radio host, " If you don't vote for me you ain't black". That's our Democratic Party nominee ?
  • 23 hours Happy 4th of July!
  • 21 hours Apology Accepted!
  • 2 days The Political Genius of Donald Trump
  • 3 days Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
The Oil Rally Has Stalled Once Again

The Oil Rally Has Stalled Once Again

Oil prices rallied once again…

A Clear Sign That OPEC Compliance Is Working

A Clear Sign That OPEC Compliance Is Working

OPEC basket price broke beyond…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

The Next $4 Trillion Democratic Party Climate Change Plan

Former Maryland Congressman John Delaney has become the latest in a growing list of Democratic presidential candidates pledging trillions in climate change fighting initiatives, CNN reports, citing Delaney’s US$4-trillion plan to cut carbon emissions by up to 90 percent by 2050.

The plan focuses on a carbon tax for polluters with the money collected this way to be then distributed among the general population. It also involves incentives for investment in direct carbon capture: a costly technology that Delaney says he will finance by ending federal subsidies for oil and gas companies, and replacing these with US$5 billion in annual investments in carbon capture technologies.

In case anyone is bothered with the size of the total investment needed, the plan claims most of this—US$3 trillion to be exact—will come from the carbon tax. The remaining US$1 trillion looks like it would have to come from the federal coffers but, the plan states, all this expenditure will result in US$3 trillion in federal revenues.

Climate change plans are shaping up as a big part of the run-up to the Democratic primaries. Washington Governor Jay Inslee, for example, earlier this month revealed a plan dubbed the “Evergreen Economy Plan”, which would cost US$9 trillion, of which US$300 billion annually would come from the federal government and US$600 billion annually will come from the public sector.

Another recent example in the greenest-of-the-green race was Michael Bennet’s “America’s Climate Change Plan”. This is the most expensive plan to date, with a price tag of US$10 trillion. It calls for “100 percent clean, net-zero emissions as soon as possible, and no later than 2050.”

The plan also includes a specific “Climate X Option” whereby power providers would be required to offer zero-emission options to every household and business in America. More ambiguously, the plan calls on American agriculture to “lead the global fight against climate change”.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News