January 18, 2013
Could a Carbon Tax Solve Global Warming?
Ronald Bailey, Reason
In terms of mitigating future climate change, a revenue neutral carbon tax would encourage producers and consumers to economize on energy produced by burning coal, natural gas, and oil that produce climate-damaging carbon dioxide emissions. Boosting the price of fossil fuels aims to enable actors in markets, not politicians and bureaucrats, to pick the least costly ways to cut emissions. Taxing carbon is also supposed to call forth innovation that would eventually create low-cost no-carbon sources of energy.
TAGGED: carbon tax, global warming