Writing in the Huffington Post, climate scientist Dr. James Hansen calls for a progressively rising tax on fossil carbon.
This is a similar approach to the one proposed by the Foundation – flexible emissions fee mechanism. This kind of fee levying is good for the economy in many ways, not least it stimulates entrepreneurs to seek renewable solutions. It also allows the economy to transition in an ordered fashion.
Says Hansen “The economics is crystal clear. We are all better off if fossil fuels are made to pay their honest costs to society”.
The money collected from the fee can be redirected straight into the pockets of the spending public, so economic growth will not be affected.
Dr.Hansen points out that the alternative route, effectively subsidizing fossil fuels by among other things allowing the environmental destruction to continue, will ruin the economy by creating a climate-altered, inhospitable weather system.
Flexible Emissions Fees introduction