Tax Dirty Energy--Carbon Tax Now!

The ‘volcano’ spewing oil in the Gulf is a dramatic reminder of why we need to end the fossil fuel industry’s stranglehold on our energy policy and our planet: we’ve got to end our addiction to fossil fuels and transition to a low-carbon economy. We all respond to prices, and as long as fossil fuels are the cheapest form of energy, we’re not going to improve efficiency or invest in alternatives on the needed scale.

A carbon tax can help change the dynamic: fuels would be taxed on their carbon content, with the revenue “recycled” to individuals. It’s not only the most efficient, socially-just, and transparent way to halt global warming, but it would also create jobs in a green energy economy. And a carbon tax doesn’t depend on Wall Street to set and manipulate the price, as the cap-and-trade market in the Kerry-Lieberman Senate bill would.

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