Global Warming
The Answer (The Energy DIvidend)
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"Global Warming: The Answer" takes as given that global warming is man-made and occurring with increasingly adverse e¿ects. After a brief review of the carbon cycle (and how man is disturbing it), the book argues that global warming is an economic problem: Given the right prices, technical solutions will follow. Aft er looking at the (limited) solutions for "personal virtue" in reducing pollution, the book examines the chimera of "a carbon neutral life-style," and necessity to achieve a fossil-free economy. Cap and Trade is shown to involve huge wealth transfers to established polluters and i...
"Global Warming: The Answer" takes as given that global warming is man-made and occurring with increasingly adverse e¿ects. After a brief review of the carbon cycle (and how man is disturbing it), the book argues that global warming is an economic problem: Given the right prices, technical solutions will follow. Aft er looking at the (limited) solutions for "personal virtue" in reducing pollution, the book examines the chimera of "a carbon neutral life-style," and necessity to achieve a fossil-free economy. Cap and Trade is shown to involve huge wealth transfers to established polluters and is thus rejected in favor of a "revenue neutral, carbon tax." More speci¿ cally an initial carbon tax of $250 ton, with the revenue returned the public through lowered payroll taxes in the U.S. (or V.A.T. or sales taxes elsewhere). Existing and pending technologies that will take-ö once fossil fuels are taxed are reviewed, as are ancillary policies in support of the carbon tax. Some suggestions are ö ered for increasing international collaboration. It is emphasized however that to date no signi¿ cant action has been taken to combat global warming: Kyoto, higher mileage requirements, and An Inconvenient Truth not-withstanding. Action is urgent! But ¿ rst the public have to understand the answer to global warming.
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