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Romm stated that "Yet a serious price for a carbon emission allowance of even $400 per metric ton (which is three times the current price for carbon in the European Trading Scheme) would raise the price of gasoline only $1 a gallon."
$400 per Metric tonne is ten times the current price on the European exchanges.
I just pulled up ECX Futures and it is a bit 28 Euro/MT which works out to $45/MT at $1.60/Euro
Second, Gasoline produces 8.877 Kg CO2/gal & Diesel 10.186 Kg CO2/Gallon; since 1000 Kg equals a Metric tonne, at $400/MT, the cost per gallon works out to $3.55 for gasoline and $4.07 for diesel.
This works out to roughly the tax level that Europeans have placed on gasoline, (diesel is a bit lower) for decades.
Presenting incorrect facts do not help in what will have Greenhouse gas emissions regulations.
People need to know what the cost is and that it is worth paying.
Generally, most observers place the cost of CCS on fossil fuel plants at $60/MT; But we really don't know until we get working on it. Until there is legislation, there won't be anything beyond Federal demonstration projects.
