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Not highly enough to account for its externalities.


Importantly, petroleum taxes are usually leveraged on consumers e.g. diesel and gas prices in europe are mostly special taxes (+ VAT), train operators pay taxes on electricity (possibly diesel as well, not sure about that one) but kerosene (and possibly bunker fuel) is free of both VAT and petroleum-specific taxes. And that's despite planes generally producing more CO2/passenger/km than cars by a factor of 30~50%.




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