I read my own required reading. From the WSJ piece advocating a global carbon tax:
Imposing a tax or fee on each ton of carbon emitted would encourage technologies that produce less carbon, advocates say. It would raise the price to consumers of activities that burn carbon, such as driving. "If there's an iron law in economics, it's that if you raise the price, you lower demand. And so if you raise the price of burning fuels, you'll lower demand for them," says Mr. Green [resident scholar at AEI].
As thousands and thousands (millions?) of micro principles students know as of this week, if demand for a product falls then the product's price will also fall. Hence, a carbon tax leads to lower prices!
Spot Mr. Green's mistake, or, sloppy language, that might lead to the confusion in the previous paragraph.
