Earth Equity News

Put a Price on Carbon. Commentary by Martin Lagod and Jason Scott, Politico, July 26, 2010. "Now that the Senate has again decided to hold off on a comprehensive energy and climate bill, we look back at the debate with frustration -- but also with lessons learned for the future. The debate came down to one question: Will putting a price on carbon create -- or cost -- U.S. jobs? Sadly, political fears allowed myths about the legislation to overshadow the strong reality that comprehensive reform will create jobs and lead to economic growth. As we look to the next round, we want to set the record straight and offer a preview of the arguments that senators and advocates should make when the bill is picked up again. We are clean energy investors who come from different political parties. Our separate companies, together with our investment partners, have more than $10 billion to invest in clean energy technologies and projects across the United States. We're the people who will help create the American jobs that clean energy will bring...

"The path to creating more U.S. jobs is simple: Pass legislation that eliminates uncertainty and levels the playing field, and investors will fund projects that create good jobs here at home. Rules bring certainty, certainty spurs investment, and investment creates jobs. In the United States, the single most powerful policy tool to do that is a market-based price for carbon. Putting a market price on carbon would allow for a fair-competition approach with the fossil fuel industry, which receives about $12 billion in taxpayer-funded subsidies each year, according to the Environmental Law Institute. Putting a market price on carbon would provide clear price signals to investors like us. Then, the U.S. innovation engine -- our most valuable asset -- would be turned loose, and capital and U.S. jobs would follow." Martin Lagod, a Republican, is a managing director and co-founder of Firelake Capital Management in Palo Alto, Calif. Jason Scott, a Democrat, is managing partner and co-founder of EKO Asset Management Partners in New York. Both serve on the board of the Clean Economy Network.