Earth Equity News

The Day Has Come for a Carbon Tax. Editorial, Providence Journal, August 11, 2010. "The failed cap-and-trade legislation was complicated and strange -- the spawn of horse-trading among coal-producing states, manufacturing states, environmentalists and utilities (with a weak economy thrown in)... The abandonment of cap-and-trade legislation by both Democrats and Republicans does not spell the end of the quest to cut emissions of greenhouse gases in the U.S... Wouldn't it be better for businesses that make and use energy to know how this will happen as soon as possible, so that they can plan? The patchwork of state actions is already frustrating them... The chief advantage of a carbon tax over cap-and-trade is simplicity: It would not become a piñata for various interests. Its simplicity is also a disadvantage: It is a tax that everyone can see, even if some of the money goes back to consumers. Clearly, this is a solution for grownups. As an idea, the carbon tax has been around a long time. The day has come to embrace it."