The following column is the opinion and analysis of the writer:
To reverse the dangerous warming of our planet, we need transformative energy solutions throughout the different sectors of the U.S. and world economy. Many of these solutions are already in motion, but much more needs to happen.
Fortunately, there is a single, overarching solution that will pave the way — and it’s a solution that every one of us can help bring about. It is the Energy Innovation and Carbon Dividend Act.
With this act, the producers of coal, oil or natural gas pay a fee for each ton of CO2 emissions their products put into the atmosphere. The federal government collects these fees and then pays them as dividends to every U.S. household in equal amounts, differentiated only by family size.
The amount of the fees and the dividends will increase annually until emissions are reduced by 90%. At all times, the 60% or more of households with low or average incomes will receive more in dividends than they spend on increased energy costs.
This approach will reduce U.S. emissions by at least 30% in just five years, with greater reductions to follow. Here’s how: First, the carbon fees will make fossil fuels increasingly more expensive. As a result, individuals and businesses will use less of them, both by choosing energy-efficient vehicles, appliances, HVAC systems and industrial processes and by switching to clean energy whenever they can.
Businesses and investors will respond to these changes in consumer behavior by funding and developing an increasing number of clean energy sources and products. On top of all that, this new business activity will create an estimated 2.1 million jobs.
It’s no surprise, then, that a wide array of knowledgeable and concerned individuals and groups have expressed their support for carbon fees. That includes a number of prominent conservatives who formed the Climate Leadership Council and issued “The Conservative Case for Carbon Dividends.” Other supporters include the Union of Concerned Scientists, the International Monetary Fund and the 45 top economists whose January 2019 letter to the Wall Street Journal advocated for a carbon fee as “by far the best way to address climate change”.
You can see more than 2,000 prominent individuals, businesses and other organizations who are supporters by going online to energyinnovationact.org/supporters
Or see the 54 college and university presidents who endorse a carbon fee at citizensclimatehighered.org/endorsements
Despite this widespread support, Congress has not yet enacted a carbon fee and dividend program. This is where you can make a difference. No matter who you are, a university president, a business owner, a union executive, a community leader or a concerned citizen, you can help reverse climate change by publicly voicing your support for a carbon fee.
Just go to energyinnovationact.org/endorse and take a few minutes to make your own endorsement of the Energy Innovation and Carbon Dividend Act. Your endorsement will help motivate members of Congress here in Tucson and throughout Arizona to do the right thing. Use your power to help save our planet.
