But it needs your support
By Sarah “Steve” Mosko
Appeared: E-The Environmental Magazine, 19-Mar, 2019
A bipartisan bill introduced January in the House of Representatives inspires hope that our children and grandchildren can be saved from what scientists tell us is an ongoing and growing climate disaster.
The evidence is incontrovertible that the climate is in crisis and that burning fossil fuels is the primary cause. A recognized global authority on climate change has warned that there is precious little time left, just 12 years, to drastically reduce greenhouse gas (GHG) emissions enough to avert the worst effects of climate change. By putting a price on carbon emissions, The Energy Innovation and Carbon Dividend Act (H.R.763) shines a spotlight directly on the hidden costs of burning fossil fuels and very swiftly reins in GHG emissions. Here’s how it would work and how it’s a win-win for the public and industry.
A steadily rising price is placed on the carbon content of fossil fuels – coal, oil, and natural gas – when they enter the economy. It starts low ($15/ton of CO2-equivalent emissions) and increases yearly by $10/ton until GHG emissions are reduced by 90 percent. The predictable increases in fossil energy prices stimulate the market-driven innovation needed to transition to renewable energy sources, all without government intervention: no subsidies and no new rules and regulations.