Carbon Tax Vs. Carbon Trading

<p>L.A. Times editorial compares carbon taxes and carbon trading schemes and argues that carbon taxes are the best way to combat global warming.</p>
May 29, 2007, 2pm PDT | Abhijeet Chavan
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"If you have kids, take them to the beach. They should enjoy it while it lasts, because there's a chance that within their lifetimes California's beaches will vanish under the waves."

"There is a growing consensus among economists around the world that a carbon tax is the best way to combat global warming...Yet the political consensus is going in a very different direction. European leaders are pushing hard for the United States and other countries to join their failed carbon-trading scheme...The obvious reason is that, for voters, taxes are radioactive, while carbon trading sounds like something that just affects utilities and big corporations. The many green politicians stumping for cap-and-trade seldom point out that such a system would result in higher and less predictable power bills. Ironically, even though a carbon tax could cost voters less, cap-and-trade is being sold as the more consumer-friendly approach."

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Published on Monday, May 28, 2007 in The Los Angeles Times
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