Saving the world will not be cheap
THE best way to curb global warming would be a carbon tax. The money raised could be divided up among citizens or used to repay the national debt. A tax on carbon dioxide (CO2) would give everyone an incentive to emit less of it. It would be simple, direct and transparent. For these reasons, it will never happen in America.
Frank talk about energy policy is rare. Politicians hate to admit that anything they plan to do will cause pain to any voter. During the election campaign, both Barack Obama and John McCain proposed a cap-and-trade system for curbing CO2 emissions, not because it would work better than a carbon tax but because it did not have the word “tax” in its name. Both candidates also gave the impression that their green policies would yield huge benefits while imposing no costs. A shift to alternative energy, they agreed, would not only check global warming but also create millions of green jobs and help break America’s dependence on foreign oil.
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