Carbon Tax Talks Experience Renewed Interest Post Superstorm Sandy
Monday, 19 November 2012
The issue of climate change has re-entered the public’s conscious in the wake of Superstorm Sandy. In fact, there were accusations of a “climate silence” on the part of the presidential candidates until the megastorm hit the Northeast a week before this month’s election. Now both parties are talking about a potential carbon tax.
Last week a carbon tax was once again the topic of discussion at the American Enterprise Institute (a conservative think-tank) and the Brookings Institution (a more liberal think-tank) released a paper on it. The Congressional Budget Office also published a report on potential ways to make a carbon tax less of a burden on lower income people.
A carbon tax works by making those that use fossil fuels like coal, oil and gas pay more. When they are burned, fossil fuels contribute to global warming by producing carbon dioxide, which traps heat. Some experts estimate the price tag of a tax of $20 per ton of carbon dioxide emissions to add 1 or 2 percent to the price of gasoline and electric power. Other pundits view a carbon tax as a tax on economic growth.
Whether or not a carbon tax will have the political backing to make it through a divided Congress is questionable. However, environmental advocates are always interested when climate change is a hot topic. Extreme weather has been linked to climate change. So it’s important to warn people that if we continue on this unsustainable path of dumping 90 million tons of pollution into the atmosphere on a daily basis that the future will include more superstorms with increasingly devastating consequences.