Opinion: The Smart Way to Reduce Emissions and Outmaneuver Our Rivals
by James A. Baker III and Greg Bertelsen (Washington Post) … One thing has become crystal clear during the long-running debate about climate change: Most nations won’t risk their own economic well-being in the hope of reversing what is clearly a global problem.
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A plan co-authored by Secretary Baker and the late George P. Shultz holds the key to placing market pressure on China and other nations to start doing their part. It would place a fee on all carbon emissions in the United States, an approach that most economists believe is the most efficient and effective way to reduce such emissions.
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One can almost hear the scoffing from China, India and Russia as the United States attempts to unilaterally restrict its oil and gas production, only to have a growing global demand filled by competing nations that produce fossil fuels with more emissions. And yet climate change can’t be effectively addressed unless most of the other biggest emitters follow suit. As much as some might like, we can’t force these large emitter nations to impose restrictions such as those being considered in the United States.
So, a critical component of our plan is a feature that would rebate to U.S. manufacturers their fees on exports to any nation without a similar carbon program. If any country refused to go along, it would have to pay a penalty to send its goods into the United States. Access to the world’s largest market would obviously put pressure on China and other nations to reduce their own emissions — or pay a surcharge to sell their goods in the United States.
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The European Union is already preparing legislation to charge imported goods for their emissions. Ultimately, we should partner with Europe and our other allies to form a bloc of countries that similarly price carbon. READ MORE
“Disappearing” Carbon Tax for Non-Renewable Fuels (Advanced Biofuels USA)
