Introduction . Carbon Emissions Significantly Affect Climate

1235 WordsMay 2, 20175 Pages
Introduction Carbon emissions significantly affect climate change. Climate change has been at the forefront of political debate in the United States during the 2017 election and under the new President, Donald Trump. Those who acknowledge the severity of climate change and its impact on the environment and the world’s population, recognize the harm of carbon emissions. The U.S. Environmental Protection Agency (EPA) has reported that carbon dioxide emissions make up over 80 percent of the greenhouse gases (GHG) emitted by the United States (Figure 1). The need for an efficient plan to hinder the increase in emissions is pressing because the levels have grown over the years. Figure 2, illustrates the EPA’s knowledge that between 1990 and…show more content…
Most economists, such as Adam Smith, would agree that price is an efficient way to guide decisions of consumers and producers. Putting a price on carbon emissions would increase the consciousness of big companies, as well as individuals, on how much CO2 they produce. As of now, most of the United States does not put a price on carbon emissions, leaving CO2 “unpriced”2 Carbon taxes should be established to reflect the detrimental societal cost which would discourage further carbon emissions at or above the level they are already at. Revenue Research: Cap-and-trade & Carbon Tax Jeremy Carl and David Fedor investigate and analyze the public revenue generated by global carbon tax and cap-and-trade systems. Reviewing government literature, Carl and Fedor estimate that more than $28.3 billion in government “carbon revenues” are currently collected each year in 40 countries and another 16 states or provinces around the world. Of those revenues, 27% ($7.8billion) are used to subsidize “green” spending in energy efficiency or renewable energy, while 26% ($7.4billion) go toward state general funds. Notably, 36% ($10.1 billion) of today 's carbon revenues–the largest share overall–are returned to corporate or individual tax payers through paired tax cuts or direct rebates. An important
Open Document