Fee and Dividend – A Better Plan to Reduce CO2

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For many years, the words global warming meant little to me. I was quick to dismiss climate change as a hoax or a natural phenomenon and continue to live as I always have. Then, one day, I heard someone on the radio ask, “Whether it’s man-made or a natural occurrence, shouldn’t we be doing something about it?” This comment stuck in my mind, and through a number of events, my thinking slowly changed….

One bill in Congress to address climate change uses a cap-and-trade approach. Cap and trade sets a carbon cap for utilities, transportation, and manufacturing. While this sounds like a great way to limit carbon emissions, the details are dicey to say the least. Businesses will have no true financial incentive to decrease reliance on fossil fuels, the amount of carbon allowed is still a mystery, and — even if it works — it won’t be fast enough. We need something more transparent and effective, and we need it now.

Citizens Climate Lobby and a number of other climate-oriented organizations came up with a solution: the Fee and Dividend plan. Under this proposed legislation, an escalating carbon fee will be imposed on fossil fuels at their point of entry into the economy, whether it be at mines, wells, or ports. This fee will raise the price of fossil fuels and make clean energy technology more competitive.

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