Many believe that climate change is the single largest peril
facing humans. The yearly increase in ambient temperatures signals changes in
our world-wide weather system that cause melting of our polar ice caps and flooding of
coastal areas as well as increases in number and severity of hurricanes and tornadoes. Fortunately,
most political leaders around the world recognize the inevitable consequence in
lives lost of doing nothing to stem pollution of our atmosphere with carbon
dioxide. The problem of using fossil fuels like oil, gas and coal and the
resultant mix of carbon-rich gases fouling our atmosphere, are the known cause
of climate change. Fortunately, the world’s enlightened political leaders came
together in 2015 to create the Paris Accords and set objectives for reducing the
amount of carbon spewing from our smokestacks.
The question is, ‘how can nations around the world induce
their people to reduce burning fossil fuels to get the energy they want?’ The
answer to that question seems increasingly to be the application of a carbon
tax that will cause users to change from fossil fuels to lower cost
alternatives such as wind, solar and other non-taxed energy sources. Many
nations around the world are already implementing carbon taxes to reduce the
use of fossil fuels.
In the United States, this suggestion has taken the form of
a proposed tax on fossil fuels at the well-head for all those fuels that
produce carbon dioxide upon burning. The tax is to be adjusted depending upon
the amount of carbon that is produced; for example, low carbon producing natural
gas will be taxed at a lower rate that high carbon producing coal. The tax is
intended to be adjusted each year with increases over time. And here is the
best part of the proposal that is now circulating in Washington; the carbon tax
that is collected by the government will be returned in full to all US
citizens. If you are a citizen, you will get a yearly check from the government
that equals 100% of the fee collected divided by the number of US citizens. The
proposal is gaining more and more support on a bipartisan basis among US
politicians, despite a few high-profile nay-sayers.
A bevy of experts including the US Treasury Dept. has
studied the US carbon tax proposal. The following comes from Jonathan Marshall
who has published articles about carbon taxes in the New York Times, Reason
magazine, Huffington Post.com, and San Francisco Chronicle, where he was
Economics Editor. Here is a summary of his most recent publication on the
issue.
The most sophisticated
economic models available today tell a consistent story about the likely impact
of levying a national fee on fossil fuels: such fees would dramatically reduce emissions
of carbon dioxide as well as other pollutants that cause major health problems.
The other good news is that these benefits would come with virtually no impact
on US economic growth. Furthermore, returning revenues to the general
population through rebates (“dividends”) would ensure that such fees remain
affordable to people of all incomes, while still changing their behavior.
Indeed, a 2017 Treasury Department analysis found that roughly
two-thirds of households would see their incomes grow from carbon dividends,
while the remaining wealthy households could easily handle the higher cost.
All of the eleven different
economic models that have been used to study the effect of the carbon tax show
that the move will significantly lower carbon dioxide emissions. Further, the
studies predict that carbon fees will provide an incentive for developing new
technologies to avoid further climate change at lower cost than these models
predict. The studies also predict large health benefits to Americans such as
avoiding 3,500–8,000 premature deaths and 90,000 cases of exacerbated asthma.
Carbon fees have political
support. A 2018 public opinion survey by the Yale Program on Climate
Change Communications finds that 71 percent of all registered voters, including
56 percent of Republicans, favor requiring fossil fuel companies to pay carbon
taxes. The US is not the leader in this field. The World Bank reports that
“carbon tax has been in practice for over the last 28 years in some countries.”
The Paris Accords provided a shot in the arm for a carbon tax. Many politicians
who were afraid that consumers might object to a carbon tax, now recognize that
the tax is the least painful and most efficient means in fixing the climate
problem. The signatories to the Paris Accord now includes at least 80 countries
who are investigating a carbon tax for their nations.
The time to take action in the US on fixing the climate
change problem is now. Each year that we delay makes the problem worse and more
difficult to correct. Since we are by far the world’s largest carbon polluter,
it is our responsibility to take effective action now. Climate experts say that
there is a point of no return; that our atmosphere will someday reach the point
of carbon saturation such that remedial action will be of little consequence.
If our political leaders are unable or unwilling to lead us to a solution to
this problem, we must point the way for them. I suggest that you send a note to
your Congressman and Senator to let them know your opinions on this issue. And
vote. Urge everyone you know to make their opinions known by voting in the
forthcoming elections. Ict comes with being a responsible citizen.
Bill
