Carbon Tax may Accelerate Shift from Carbon-producing Fossil Fuels to Sustainable Energy, says Elon Musk

World leaders and policymakers are in Paris to discuss climate change. They are making plans how to tackle global warming in near future. But, South African-born Canadian-American business magnate Elon Musk thinks youth has the power to prevent global warming. He said only carbon tax can help in accelerating the shift from carbon-producing fossil fuels to sustainable energy.

During a conference at the Sorbonne in Paris, SpaceX CEO said young people have the power to make a change. Musk said carbon tax should not be according to revenue. It should be revenue neutral, he added. If government acts as Musk wants, then it will receive the same amount of money. According to Musk, taxes would be weighted heavily on carbon.

Musk also encouraged students to press leaders to take immediate and strong actions against climate change as politicians respond to public pressure. In the conference, Musk said, “Eventually, the world will run out of carbon to mine and burn, and will have to move to sustainable energy. A hidden subsidy that benefits all carbon-producing activity—about $5.3 trillion annually, according to the IMF—is delaying that transition”.

Musk, CEO of Tesla Motors and chairman of SolarCity, said governments must deliver a clear message. The most common problem is that some rules let people create carbon, and this is not right, Musk said. All that people can do is pressurize politicians to take the right move, as per Musk.