Sunday, August 26, 2012

'Global Warming Has a Fairly Simple and Cheap Technical Solution'

'Global Warming Has a Fairly Simple and Cheap Technical Solution':
Robert Frank:


Carbon Tax Silence, Overtaken by Events, by Robert Frank, Commentary, NY Times
: ...Mitt Romney ... has been equivocal about whether rising temperatures are
caused by human action. But he has been adamant that uncertainty about climate
change rules out policy intervention. ...


Climatologists are the first to acknowledge that theirs is a highly uncertain
science. The future might be better than they think. Then again, it might be
much worse. Given that risk, policy makers must weigh the potential cost of
action against the potential cost of inaction. And even a cursory look at the
numbers makes a compelling case for action. ...


The good news is that we could insulate ourselves from catastrophic risk at
relatively modest cost by enacting a steep carbon tax. ... A carbon tax would
also serve two other goals. First, it would help balance future budgets. ... If
new taxes are unavoidable, why not adopt ones that ... make the economy more efficient? By reducing harmful
emissions, a carbon tax fits that description.


A second benefit would occur if a carbon tax were ... phased in gradually, only
after the economy had returned to full employment. High unemployment persists in
part because businesses, sitting on mountains of cash, aren’t investing it...
News that a carbon tax was coming would create a stampede to develop
energy-saving technologies. ...


Some people argue that a carbon tax would do little good unless it were also
adopted by China and other big polluters. It’s a fair point. But access to the
American market is a potent bargaining chip. The United States could ... tax
imported goods in proportion to their carbon dioxide emissions if exporting
countries failed to enact carbon taxes at home.


In short, global warming has a fairly simple and cheap technical solution. ...

Update: I didn't do a very good job of highlighting Robert Frank's point that we
shouldn't "expect to hear much about climate change at the Republican and
Democratic conventions," but "Many climate scientists ... are now pointing

to evidence linking
rising global temperatures to the extreme weather we’re
seeing around the planet." Thus, "Extreme weather is already creating enormous
human suffering, and "If the recent meteorological chaos drives home the threat
of climate change and prompts action, it may ultimately be a blessing in
disguise."

DIGITAL JUICE

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