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A tax on carbon emissions would be better than USA’s Climate Bill

Making the Simple Complicated – Economix Blog – NYTimes.com, By EDWARD L. GLAESER 18 May 2010, “…….This bill is a behemoth for three reasons. First, it tries to do far more than just charge for carbon emissions. The bill starts by providing “incentives for the growth of safe domestic nuclear and nuclear-related industries.” It supports carbon capture in coal plants, expands offshore drilling, establishes an Office of Consumer Advocacy and promotes “clean energy career development.” Standard economics suggests that many of these interventions would be unnecessary if we had the right tax on carbon emissions; if companies pay the full social costs of their actions, they have the right incentives to invest in greener technologies without any further help from Uncle Sam………..
At the end of the day, it is hard to relish either this ornate piece of legislation or the prospect of inaction on global emissions.

Making the Simple Complicated – Economix Blog – NYTimes.com

May 19, 2010 - Posted by Christina Macpherson | general | antinuclear, climate change, global warming, nuclear, renewable energy