Carbon Tax isn't Best Solution for Global Warming - Opposing Views- Topic: global warming news

If the goal, shared by President Obama and others, is to reduce the amount of greenhouse gases in the atmosphere by 80% or more, a cap and trade program that gradually reduces the amount of CO2 permits available to emitters over a 40 year horizon is far more effective at achieving this goal than a tax. This makes cap and trade more effective and more responsive than a carbon tax, which needs to take into account how much progress the carbon tax has made historically before it can decide whether or not to provide economic relief during an economic slowdown. While the regulation of a cap and trade market for CO2 will likely be reviewed every five years, the program itself will be designed to operate for nearly four decades and will not be subject to the same intense political pressure that a carbon tax would experience. Although a carbon tax sounds like the more straightforward solution, if the goal is to achieve guaranteed emission reductions, well written cap and trade legislation will provide more economic and environmental certainty than a tax.

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