Marc Ó Cathasaigh (Waterford, Green Party) | Oireachtas source

That was an interesting history lesson on how and when we might arrive at something but I did not quite get a clear answer on when we actually will see it. One of the problems of dealing with pollution and its impact, be that carbon emissions or otherwise, is that while the benefits might be privatised, the costs are socialised. The use of our atmosphere is a classic case of tragedy of the commons, in that we are facilitating a fossil fuel society while outsourcing the impact of those emissions.

The Minister of State probably has a figure we will finally arrive at. I was looking at The Economistthis week. The American Government puts the socialised cost at around $51. The US environmental protection agency puts it at $190. The EU ETS scheme is around €80. That is a really wide range and, depending on the number picked, will deliver wildly difficult outcomes in terms of what projects we decide to fund or not fund. When am I likely to see the shadow price of carbon?

See this speech in context