Energy, carbon taxes and the winds of change (Jeff Rubin)

…Commercial air travel, like many other industries, is lubricated by cheap oil. Mr. Rubin, the former chief economist of CIBC World Markets, has now bet his career on a single idea

At $150 or $200 oil, the same shift happens in other manufacturing sectors, Mr. Rubin says. That’s especially true if the United States, under President Obama, is able to add a price cost to carbon emissions, because so much of China’s industrial production is driven by cheap-and-dirty electricity.