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are just information. … If the price<\/strong> is wrong, the economy<\/strong> doesn\u2019t do the right thing.\u201d<\/p>\nCurrently<\/strong>, there is no direct monetary consequence for businesses<\/strong> and industries<\/strong> whose production releases greenhouse gasses<\/strong> into the atmosphere<\/strong>; in other words, it is free to create green house gasses<\/strong>, the most common and pervasive<\/strong> of which is carbon dioxide<\/strong>. Carbon dioxide is released when fossil fuels, like coal and gas, are burned.\u00a0Excess carbon dioxide in the atmosphere<\/a><\/strong>\u00a0traps heat and causes global warming.<\/p>\n Musk<\/strong> calls carbon concentrations<\/strong> in the atmosphere and environment an \u201cunpriced externality.\u201d<\/strong> An externality happens when some consequence of production<\/strong> is not properly reflected in the market. In this case, it is a negative externality.<\/strong><\/p>\n A carbon tax would change that. \u201cIf we just put a price on [carbon emissions], the market will react in a sensible way. But because we don\u2019t have a price on it, it is behaving badly,\u201d<\/em> Musk says.<\/p>\n Musk suggested a tax at the point of consumption<\/strong>. (A consumption tax is one that is levied at the point of consumption, when someone buys something, where an income tax is one where you earn income or collect interest, capital gains and the like,\u00a0according to the Brookings Institution<\/strong><\/a>.)<\/p>\n