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Climate Change : The United States

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Today, people in the United States and around the world face a changing climate that threatens our way of life. An increase in the frequency and severity of extreme weather conditions poses a threat to food security, infrastructure and economic affluence. In the United States, climatologists from the United Nations project that a seven-degree Fahrenheit increase in average temperatures will cause more frequent droughts affecting agriculture in the Midwest and more severe and frequent tropical storms and hurricanes affecting major cities along both coasts (“Climate” 7). Addressing these issues will require rigorous cuts in greenhouse emissions. The implementation of a comprehensive economic policy that includes the use of cap-and-trade markets, carbon taxation, and clean energy subsidies is one step toward addressing the increasingly-critical issue of climate change.
The United States economy is heavily dependent on carbon-based fuels like oil, coal and natural gas. In 2013 greenhouse emissions totaled 6.672 billion metric tons, of which 4.290 billion can be attributed to corporate activity (“Overview”). To decrease greenhouse emissions, a cap-and-trade policy can be implemented. Such a policy works to artificially limit the supply of carbon-based fuels. Suppose that the natural supply of these fuels allows for the 6.672 billion metric tons of greenhouse emissions produced in 2013. With the cap-and-trade policy in place, an artificial supply is determined to progress toward a

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