Carbon Tax: A Norwegian Case Study Since 1991
"In 1991, Norway became one of the first countries in the world to impose a stiff tax on harmful greenhouse gas emissions. Since then, the country's emissions should have dropped. Instead, they have risen by 15%."
However, considering that economic growth has grown 70% while GHG emissions rose only 15% since 1990, the carbon tax has proven effective.
As a result of carbon sequestration in the North Sea, Norway's oil industry, measured in CO2 emissions per ton of oil and gas extracted, is 39% the industry average.
The real failure has been in transportation. "Norwegians are used to paying high prices at the pump: a gallon of gasoline costs around $9 to $10, and about 6% of the price comes from the carbon tax. Yet since two-thirds of Norwegians live in the countryside, they pay up and keep driving."