Tuesday, October 20, 2015

World Leaders Call For Carbon Fee

As I've posted, here and here and here and here. the best, perhaps only, path to a habitable world is the imposition of a carbon fee.  The International Monetary Fund has called for one, and now the World Bank has weighed in,

[O]n Monday, the World Bank announced a high-level group, the Carbon Pricing Panel, which brings together heads of state, local leaders, and business executives. The luminaries, including German Chancellor Angela Merkel, Philippines President Benigno Aquino III, and California Gov. Jerry Brown, are calling on policymakers and negotiators to use carbon pricing mechanisms, setting the stage for strengthening emissions reduction plans expected at the United Nations conference in December.

The Carbon fee is a way of solving a serious problem without government regulation.

“The only approach that would work is an across-the-board rising carbon fee covering every fossil fuel at the source — the first sale at the domestic mine or port of entry,” Jim Hansen, a leading climate scientist, told ThinkProgress. “If the collected funds were distributed to the public, an equal amount to each legal resident, the economy would be stimulated, most people could make money, and fossil fuel use would go down rapidly. I call this fee-and-dividend, as opposed to cap-and-trade. It is not a tax, because the government gets no money, the government does not grow bigger.”

 It is based on economic principles.  And now we have the IMF, World Bank, and world leaders behind it.  I am just barely starting to be optimistic about preventing the worst global warming scenarios.