Option 3.
To substantially combat climate change using carbon sequestration and 2017 technologies would be prohibitively expensive. When the damages of climate change occur decades and centuries into the future they become relatively minuscule and do not require massive investments to be made today (this is an economic idea known as "discounting", which is as ironclad as demand theory).
Whenever someone mentions "but muh taxes, but muh economy" when anthropogenic climate change is being discussed, it shows they really don't have a goddamn clue what's happening with our climate - or they're so greedy and selfish that they don't care. We're currently in the process of a mass extinction - an event that has occurred a few times in earth's past, but never due to the activities of a single species. We're literally making it that currently inhabited parts of our planet will be unfit for human habitation within our lifetime. Tens, if not hundreds, of millions of people will be displaced, wars and conflicts will erupt over dwindling resources, mass migrations and refugee crises will flow northward from the global south causing unimaginable social, political, and economic destabilization across the globe. Famines, floods, desertification, heat waves, rising ocean levels, and the spread of tropical diseases will cause untold damage. Countless species, which play critical roles in the ecosystem, will become extinct or struggle to survive. And that's even if we take immediate, drastic action; and that's all going to progressively get worse over this century.
Of course, the wealthier you are, both within our country and on a global level, the better off you'll be in relative terms. It'll be the poorest Americans and the poorest people around the world who'll suffer and die. The projected economic losses for the US alone show that America's poorest regions (Southeast, Southwest) will be the hardest hit. Then consider what even a couple degrees additional temperature will do to people living in desert, tropical, and subtropical climates. Already, workers of the land in tropical zones have begun experiencing unprecedented levels of kidney related health problems due to chronic heat exhaustion. When the human body in places with high humidity and high night time temperatures reach a certain point, they can't cool themselves and will start shutting down. Countless people are and will be condemned to agonizing deaths and miserable lives. And why? Wealthy, industrialized countries caused these problems; the climate change linked pollutants have overwhelmingly been caused by the people who'll suffer the least because of them. And it's those same wealthy countries that are complaining about having to implement changes that'll hurt their pocketbooks while small island nations like the Maldives are slowly consumed by the oceans.