TAG: Carbon tax

Fight Against Pipeline

Fight Against Keystone Pipeline

Last fall, President Obama delayed the northern portion of the Keystone XL pipeline project. A project that would transport carbon-intensive crude tar sands from Canadian strip mines to refineries in Texas. Environmental groups strongly supported the delay, and are now finding themselves forced to band together again to encourage the president to stop the pipeline altogether in his second term. However, these environmental groups may have found a new ally in the fight against the Keystone XL pipeline, and it comes as a slight surprise. Zogby Analytics, a polling group, just conducted a survey showing very strong support for renewable energy… read more

Benefits of Carbon Taxing

Hydrogen_fueling_nozzle

In the past, the thought of carbon taxing prompted within many Americans an internal groan at the thought of paying more money for our gas use. But a recent survey from December shows that most Americans would support the proposal of carbon taxing, with 70 percent in favor. Especially as taxing big corporations for their use of fuel could inspire the application of cleaner strategies, while the money made from taxing could go towards funding environmental solution programs and the creation of green jobs. Not only would carbon taxes help curb the escalating release of carbon emissions, but could also reduce… read more

The Norquist Bombshell

Carbon tax swap

Grover Norquist, the influential lobbyist who has bound hundreds of Republicans to pledge never to raise taxes, said a proposed “carbon tax swap”—taxing carbon pollution in exchange for cutting the income tax—would not violate his pledge. This admission may help open the bipartisan dialogue on climate change, given the reluctance (to say the least) of Republicans to have those important discussions regarding the environment. On the heels of the election where the Americans who voted showed a rejection of the status quo environmental policy, it would behoove Republicans to jump on the progressive bandwagon, at least pertaining to reducing the… read more

California Cap and Trade

Cap and trade to reduce carbon emissions

On January 1st, 2013, California will become the first state in the United States to implement a cap and trade program on carbon emissions for companies in the state. Similar to other cap and trade programs, California will set an overall ceiling on carbon emissions and assign allowable emission amounts for individual polluters, and charge for excessive emissions. Portions of the allowances will be allocated to utilities, manufacturers and others, and the remainder will be auctioned off. An interesting component of this cap and trade program is the number of allowances issued by the state will be reduced over time,… read more

Carbon Tax Coming?

Carbon Tax COming?

A new report released Tuesday by the Congressional Research Service (CRS) shows that a carbon tax of $20 per ton which rises 5.6% annually could halve the projected 10-year deficit—from $2.3 billion to $1.2 billion. In the first year alone, the CRS estimates the tax could generate $90 billion. However, there is a catch: it is possible the generated revenue would not go entirely toward debt reduction, and instead go back into the industry in one way or another. Groups of people who disproportionately bear the carbon price might have revenue “recycled”; some revenue may be offset by lowering the payroll… read more

Carbon Tax and its Role

The role of Carbon Tax

The importance of Tax reforms to government fiscal policy cannot be understated, especially given the unfavourable economic climate faced by the global community. One particular area of taxation that requires attention is carbon taxation, and its role in mitigating the impact of greenhouse gases and carbon emissions on our natural environment.  It is a trite fact that carbon emissions emanating from human activity contribute significantly to the rising global temperatures. Formulating a fiscally sound carbon tax could prove invaluable in making inroads geared at addressing the on-going problem that is global warming. Governments have the duty to educate taxpayers on the rationale behind carbon taxation, more… read more