World Bank: The poor will suffer from carbon taxes

World Economic Forum Praises Denmark for implementing the world’s most stringent carbon tax laws. Companies will soon be forced to pay $159 for every ton of CO2 emitted, which means an additional $53 per ton. The government claims that this will reduce CO2 emissions by 3.7 million tonnes in just one year.

“This encourages companies to clean themselves up,” the WEF reports. In the midst of an extreme energy crisis, penalizing energy suppliers will no doubt backfire. These costs will be passed on to the already struggling consumer. Even the World Bank has acknowledged that the poor will suffer from a carbon tax.

The World Bank stated in a blog post:

“There are good reasons why governments may not want to use carbon taxes, and one of them relates to their welfare impacts. For example, a carbon tax on fossil fuels is often regressive in its impact- hurting poorer people relatively more than richer ones. Even when it might be progressive, poorer people still suffer a welfare loss when prices rise, making their consumption basket more expensive.”

In addition, they acknowledged that the carbon tax “aims to restructure the economy by increasing the value of a critical resource – the juice that makes it work.” Exactly. We NEED fossil fuels right now, there are no other viable alternatives to power the world. As countries succumbed to the climate change agenda, they lost their energy independence status. Europe shot itself in the foot by cutting off any diplomatic relations with its number one gas supplier for a country they didn’t recognize until February 2022.

Other countries in a position to do so will drill and sell oil to those led by the WEF at a premium. India already buys Russian oil at a discount, refines it and sells it to the US at a premium. This is more than just bad business, as it is a clear attempt to cut off a “critical resource” for “restructuring the economy” at the discretion of the WEF.