Last week Peter Barnes wrote for Common Dreams about the potential economic windfall of fighting global warming… if we do it the right way. Like our contributor Tucker Eskew, who wrote on this topic yesterday, Barnes believes that means starting a cap-and-trade system:
Here’s how America can reap this climate dividend. First, we need to cap carbon dioxide emissions economy-wide, and crank the cap down 2 or 3 percent each year until mid-century.
He goes into some detail about how permits should be distributed to ensure that the profits don’t just go to energy-heavy industries, who consistently argue for discounted or free carbon permits. Giving such companies a pass removes their incentives to find new ways to reduce emissions - defeating the purpose of a market-based energy plan.
Click here to read the rest of the article.
This entry was posted on Tuesday, March 27th, 2007 at 11:39 am and is filed under Cap and Trade, Climate Change . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
