Thank you for your insightful editorial “So Long, Old Ice” (Aug. 21) about the loss of glaciers from global warming and the increasing refugee issue from extreme conditions that a hotter climate brings. I fear we are just now seeing just the tip of the iceberg of future fall-out.
France did suspend its fuel/carbon tax after the Yellow Vests revolt. Reducing consumption of fossil fuels (and the greenhouse gasses) by raising the cost followed sound economic principals. It was unpopular with the public, and failed as a strategy. But carbon pricing can be an effective policy if structured well.
Start with a low carbon fee, collected at the well/extraction site that escalates over time. This gives incentive and signals the market to start transitioning to cleaner alternatives.
Return all the collected carbon fees to households in the form of a monthly dividend check. Who doesn’t want to receive a monthly check, to spend on energy efficiency, or whatever you choose? This eliminates the France pitfall and stimulates the economy.
Create a trade border adjustment, so we level the playing field when exporting U.S. goods. The border adjustment would not apply with other countries having a comparative carbon fee of their own. This encourages other countries to implement their own carbon pricing system.
Check out the bipartisan “Energy Innovation and Carbon Dividend Act” – carbon emissions reduced, escalating climate brought under control.