Carbon Pricing

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In 2015, a statistical review by BP concluded that the world reached an all-time high for fossil fuel consumption. In the same year, fossil fuels made up 81.5% of energy consumption in the U.S. However, carbon emissions in 2015 were 12% below 2005 levels. Factoring into this is the decrease in coal consumption, the growing use of renewable energy sources, and various carbon pricing initiatives that incentivize less emissions. In order to heal our atmosphere and control global temperatures, we need all 50 states to act and craft a policy that will help us reach a solution. CFER proposes that individual states’ enact Revenue-Neutral Carbon Pricing, in which traditional revenue systems, whether business profits tax, state income tax, or sales tax are decreased and offset by carbon pricing per metric ton. Additionally, we suggest that there also be financial incentives meeting emissions thresholds set by quadrennium. We need to utilize every tool in our arsenal to maintain our planet and promote healthier living for all. Incentivizing business to become better stewards of our environment is the least economically destructive way forward.