Esty and Porter Recommend Imposing a Price on Carbon Emission in the U. S.
Summary : Carbon dioxide is a major greenhouse gas produced by burning fossil fuels. It leads to increased average global temperature , which is thought to be causing a variety of climate-related harms to life across the planet. Carbon dioxide may be considered to be a waste product of our energy economy that has not yet been properly accounted for in the energy cost structure. As a first step in developing a national energy policy in the U. S. , Dan Esty and Michael E. Porter, writing in the New York Times, propose an economy-wide price on carbon. It would start initially at a low rate and increase over time to a more significant value. They point out that other nations and regions of the world already put a price on fossil fuel-derived carbon dioxide. This would be an important initiative for the U. S. , changing consumer behaviors and promoting innovation in a new energy economy. Introduction. The world relies heavily on burning fossil fuels ...