Fascinating little tidbit: the EPA estimated the implementation cost of the Clean Air Act from 1970 to 1990 as costing about $523 billion 1990 dollars. That's about 1% of US GDP over the same period.
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Does that mean that in jurisdictions with a >$20 per tonne price on CO2, it would be a profitable business to sequester CO2?
Not necessarily. Different solutions will be better and worse adapted to different regions.
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But in general we should expect the primary effect of an effective carbon market to be in sequestration and not in emission reductions. Normally reducing emissions is less efficient.
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