Is a Conservative Approach to Slowing Climate Change Wishful Thinking?

 What if:

·         there was a way to address climate change where individuals and businesses could choose what climate mitigating options to choose from without the government telling us what to do, based simply on the relative prices of the options?

·         this could be done without most people, and especially lower income people, being any worse off financially?

·         this government policy would induce other countries to do the same so the policy would not disadvantage American businesses?

·         this policy would actually grow the economy, create jobs and leave Americans healthier?

·         And without increasing the federal national debt?

Wishful thinking?

No. There is a market driven, revenue neutral policy option that conservatives should like.

In the last Congress it was H.R. 763, the Energy Innovation and Carbon Dividend Act which involved a tax on carbon with all of the proceeds paid back to the people (less a small administrative fee) and a border adjustment mechanism to prevent manufacturers from countries without an equivalent policy from taking advantage of our manufacturers.

Studies indicate that it would cut carbon emissions by 40% within 12 years, so it would be effective, create jobs, grow the economy and be healthier because of a reduction in many other pollutants connected with the coal, gas and oil industries.

Other countries are already beginning to do this which will put the U.S. at a disadvantage unless we do this as well. How the money would be distributed has already been done with the government response to Covid. The collection of the funds would be administratively simple with the collection points being a small number of mines and refineries or distribution points.

Current administration and Congressional proposals current stalled in Congress consist of mandates, standards and subsidies. Why not give the free market a chance instead?

3554 economists and 48 other prominent economic officials or advisors supported carbon taxes as the best approach to saving our planet from devastating changes in climate which will include not only rising temperatures, but stronger hurricanes, droughts which induce more forest fires and heavier rainfall causing floods.

Doesn’t the Russian invasion of Ukraine dramatically show that we must reduce the world’s reliance on fuel sources from countries ruled by autocratic dictators such as Iran, Iraq, Saudi Arabia, Venezuela and Russia?