Global Carbon Tax, Yesterday
It is difficult to imagine a scenario in which the Earth's climate is stabilized in an inhabitable condition that does not include a substantial global carbon tax [search] as a major component. From a strictly economic viewpoint, Sir Nicholas Stern – who recently published a British government report on the economic impacts of climate change entitled the Stern Report [search] – states “global warming represents the biggest market failure the world has ever seen. The market hasn't worked because we haven't fixed it… Equity demands that the rich countries, who are largely responsible for this problem, do more about it.” Stern hits it right on the head. If capitalism is to have any future at all, it better get on with the task of assigning a price to carbon dioxide release into the atmosphere. EcoInternet has long advocated a modest carbon tax, to get structures into place to tax carbon and use the revenue for greenhouse gas mitigation strategies such as conserving forests, increasing energy efficiency, and adopting cleaner energy supplies. We need to eventually tax carbon heavily while making sure the structure is progressive and does not hit poor people more heavily. The Earth desperately needs a global carbon tax, yesterday.