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Dec 18, 2009
[A global tax] on carbon emissions would be set according to the temperature in the earth’s atmosphere. The [tax] could start off small…
But if the climate models are correct…within a decade…the tax [would] at least double and possibly sextuple — with further increases on the way if the atmosphere kept heating. The prospect would give immediate pause to any investors trying to decide today what kind of cars, power plants and other long-range energy projects to finance. …
“It’s not the case that we have to wait until it is ‘too late’ to respond to global warming. The market will force investors to make the best possible use of information and to press for improvements in climate forecasting in the process.”
Full report from The New York Times.
5 Responses to “Letting Mother Nature and the Marketplace Deal with Global Warming”
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Helium
December 18th, 2009 at 5:30 pm
Very interesting idea.
December 18th, 2009 at 6:15 pm
I believe the CBO estimates that a carbon tax is five times more efficient that cap and trade, assuming cap and trade were done correctly, which it clearly is not going to be.
December 19th, 2009 at 9:07 am
And this was the CBO estimate when Obama point man Peter Orszag was its director.
December 21st, 2009 at 11:43 am
“If the climate models are correct…”
Ummm, they aren’t.
January 3rd, 2010 at 7:56 am
Global warming is becoming such an obvious problem that someone somewhere other than the US President needs to step up to help drive a massive campaign which aims to reduce Global Warming.