Probably All You Need to Know About the Prospects for a Price on Carbon Any Time Soon

more+
less-

Two trade press reports today make clear how difficult it will be to put a price on carbon in the U.S. any time soon. First, today’s ClimateWire reported that climate skeptics are trying to preempt any effort by conservative budget-balancers to use a carbon tax to accomplish budget goals while still cutting income taxes. ClimateWire quotes Myron Ebell of the Competitive Enterprise Institute as saying that

We have to make the idea of a carbon tax toxic.

Then, GreenWire reported that the American Enterprise Institute (a more old-line conservative think tank) announced that it would hold a forum on the economics of a carbon tax on November 13. While AEI stated that it wasn’t necessarily supporting imposition of a carbon tax, climate skeptics aren’t waiting to find out. Marlo Lewis, also of the CEI, gave some indication of how entrenched opponents are:

Carbon dioxide emissions come from energy use, and energy is the key factor that makes modern economies so much more productive than preindustrial societies. 

Although it’s not in quotes in Greenwire, the story itself goes on to report that “carbon is therefore good, [Lewis] argued.”

Take that, all you Nobel Prize winners who think carbon emissions represent a negative externality. Perhaps we should subsidize carbon emissions, rather than tax them.

 

Published In: Energy & Utilities Updates, Environmental Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Foley Hoag LLP - Environmental Law | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »