Peter Kalmus, LA Times, 06/04/2014
“The Obama administration’s proposed rules for power plants are a start in addressing the global warming emergency, but regulations alone aren’t enough. To address the most comprehensive threat the human race has ever faced, we need a more comprehensive approach.
A revenue-neutral carbon tax would correct the greatest market failure in history. Currently, fossil fuel producers and consumers dump emissions into the atmosphere for free, “externalizing” the massive cost of global warming.
A price per ton on emissions would correct this failure. The price would increase gradually over time, stimulating investment and jobs as industries, utilities and consumers switch to ever-more-affordable renewable energy alternatives. Yes, this would gradually raise the price at the pump, but 100% of the collected money would be returned to Americans. Those who burn less would put more money in the bank.
The sooner we get off fossil fuels, the better off we’ll be.