Also in the last fortnight, the world’s privately-owned oil companies have made $5 billion in elevated profits.

So we might infer that the price of a tonne of carbon should be $1,000.

The EU has one of the highest carbon prices. It’s currently at about €68 ($79) per tonne, so at least 12x too low

#climateDiary mastodon.world/@davidho/116271…

David Ho

2026-03-22 06:24:02

The US-Israel war on Iran has emitted 5 million tonnes of CO₂ₑ in its first 14 days. The world currently has 0.6 million tonnes of novel and permanent CO₂ removal (CDR) capacity annually.

theguardian.com/world/2026/mar…

5m tonnes of CO2 emitted in just 14 days of US war on Iran, analysis finds

Exclusive: War in the Middle East is draining the global carbon budget faster than 84 countries combined

^{Damien Gayle (The Guardian)}