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Elon Musk says his idea of Carbon Tax was shot down by the Biden Administration

The Tesla CEO, Elon Musk, is one of the most influential persons on Earth and possibly on Mars (in the future.)  With his two companies, SpaceX and Tesla, Elon Musk has brought a much-needed change in society. The latter is the most valuable automobile EV manufacturer and is expanding globally at an incredible pace. 

Thanks to Tesla’s Surging stocks, Elon Musk was able to surpass Jeff Bezos to claim the planet’s wealthiest person. While the feat was short-lived, it made a statement of how far the South African born business magnate has come. 

Elon Musk Carbon Tax

Tesla’s domination –

Elon Musk is often known to push boundaries and achieve unimaginable feats. He did the same with SpaceX and now is doing it with Tesla. 

Tesla has been the front runner in manufacturing some of the best EVs the world has witnessed in recent times. Due to their efficiency and range, Tesla cars cover more miles than any other EVs. This is evidence enough of how Tesla is dominating the EV market. 

A thought on Carbon Tax –

The new Biden administration has also prioritized the sustainable energy shift by implementing specific laws.

Elon Musk, who has been pitching a carbon tax idea, has spoken about the same to American Comedian Joe Rogan in his podcast, the Joe Rogan Experience. 

Over the recent years, the world has witnessed a significant shift towards Electric vehicles, but according to the reports, the pace is not enough to counter climate change. The Tesla CEO explained how he had pitched the idea to implement a Carbon tax to enhance the speed of the transformation. But the Biden administration responded with hesitation, saying that it’s‘ too politically difficult’ of an approach. 

Encouraging EV Shift –

Elon Musk elaborated that to encourage people to shift towards sustainable energy, the administration needs to put a price tag on Carbon. Since there is no tax now, everyone is using fossil fuels without caring about the atmosphere. It is also called an “Unpriced externality” in the world of economics. Hence, if there was a price tag, the market will use the resource in a much sensible way. 

Musk further suggested that people with lower income could be offered rebates, while others should pay the tax. While one can see this as a direct attack on the oil companies and fossil fuel industries, SpaceX CEO clarifies that it’s not. The second richest man says that humanity is going to require fossil fuel for a long time. But the point is, how fast are we moving towards sustainable energy in the future?

He also explained that he doesn’t want to make the oil and gas industry look like the villains. But a carbon tax would indeed be a redemption for the damage the industry has caused to the environment. 

Elon Musk Carbon Tax

Conclusion –

It is also interesting to note that carbon tax will not only boost the shift towards EV but will also increase the appeal of EVs like Tesla, which obviously is a vital business boost for Elon Musk but is also great for the environment. A win-win situation! 

While the Biden administration has put down the idea saying it’s too difficult for now, but let’s hope in the near future that it can implement the same or something like this to enhance the shift towards a sustainable future. 

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