Carbon Tax vs. Cap and Trade

I came across this recent op-ed in the Houston Chronicle whose authors argue for a carbon tax which increases over time. I'm a strong supporter of a price on carbon but I'm not convinced about the efficacy of a tax for a few reasons. First, I think its a hard sell these days. Cap and trade has a difficult enough time getting traction in a down economy, I can't imagine a hard tax getting through. Secondly, I don't think it'll be as straight forward as proponents suggest. Anyone who has ever done their own taxes knows how complex they can be.

Most importantly, I don't think a carbon tax offers the same environmental certainty you get from a cap and trade program, in which the cap tightens over time. Not only does a "cap" ensure the emissions reductions necessary to avoid dangerous climate change, the "trade" allows for greater flexibility in the market place enabling business (that's right, business) to make the appropriate choice in meeting its targets. But it's also important to remember that cap and trade is one element of a wider suite of options needed to deal with the challenge.

Another study debunks "global cooling"

Here is a great, if slightly long/technical, article discussing a draft study debunking the theory of "global cooling". You avid GreenMachine readers will have seen my "Fact or Fiction Friday" post two days ago on the subject.

Like I've said before, having a reasonable debate about the science is one thing. But peddling the same tired arguments day in and day out is only delaying the implementation of policies needed to reduce greenhouse gas (GHG) emissions and avoid dangerous climate change. Hopefully this latest study will put the kibosh on these misguided tactics.