General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDemocrat proposes carbon cash: $1,000 for every American
A leading House Democrat is laying out a new approach for the party to controlling carbon pollution that ultimately could return as much as $1,000 to every legal U.S. resident.The money would come from auctions of pollution permits to oil, coal and natural gas producers.
Rep. Chris Van Hollen, a Maryland Democrat whose name has come up as a potential replacement for House Minority Leader Nancy Pelosi of San Francisco should she retire, introduced the legislation Tuesday as a marker for Democrats heading into the 2016 presidential election, when he said he expects climate change to play a prominent role.
Several Bay Area Democrats signed on as co-sponsors, including Contra Costa County freshman Rep. Mark DeSaulnier, Rep. Barbara Lee of Oakland, and San Jose Reps. Mike Honda and Zoe Lofgren.
The cap-and-dividend scheme is modeled on Alaskas Permanent Fund, which shares the states oil royalties with every resident. Last year, every Alaskan children included received a check for $900. In some recent years, payments have been twice as high.
more
http://www.sfgate.com/science/article/Key-House-Dem-proposes-carbon-cash-1-000-for-6101720.php
jwirr
(39,215 posts)money coming from? Not that I couldn't use the $1000. We all could. But I don't see how this helps the carbon issue.
Jim Lane
(11,175 posts)The government would decide that, this year, we can afford to emit x number of tons of carbon dioxide. No one would be allowed to burn fossil fuels without a permit, and no permits would be issued beyond x amount.
With a limited number of permits available, the government would sell them to the highest bidders. The people or companies that wanted to burn these fuels would have to participate in the auction. The government would take all the money paid for permits and distribute it among all the people.
There would be a lot of details to work out. Would each individual driver have to get a permit? Presumably it would be easier to require the companies selling gasoline to buy permits, enough to cover the burning of all the gas they sell. What about carbon dioxide from other sources, like biomass? What about other greenhouse gases, like methane?
However those points are handled, the basic idea is to employ the vaunted "magic of the marketplace" -- the emissions that are most valuable are the ones for which people would pay the most for permits, so those emissions would continue. The reduction in carbon dioxide emissions would be achieved by reducing or eliminating the less valuable uses. This is arguably better than having the government decide which uses are less important.
A political benefit is that, with the distribution checks flowing to millions of voters, there would be strong support for continuing the program.