Cap vs Tax - Hunter Sapp June 29 th , 2011 Geography 135...

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Unformatted text preview: Hunter Sapp June 29 th , 2011 Geography 135 Existing Knowledge and Understanding of the Issue Currently in the great debate of how to limit GHG emissions, the three leading economic strategies currently being proposed is a carbon taxation, a cap and trade system on an open market, and a hybrid of the three. Currently in Washington DC two key bills are crawling their way through the House and Senate, the Waxman-Markey and Kerry- Boxer, both of which implement policies of “cap-and-trade-with-offsets.” However, According to Jim Hansen, cap-and-trade-with-offsets would only further give benefits to the select wealthy and push the middle class closer to the lower and separate the gap further. 1 Hansen continues to explain that cap and trade was created in part by Wall Street, which always is quick to see the economic gains in any market, especially one that could generate two trillion dollars. The bottom line is that as long as fossil fuels are the cheapest form of energy they will continue to be the most widely used. In complete honesty, a cap and trade system will fail, an implementation of carbon taxation or a fee-and-dividend economic system will actually begin to tackle the problem of emissions. Realistically, cap and trade is a hidden tax that will raise fossil fuel prices in the public sector, the area that needs the least amount of regulation. Along with this, the cost of the infrastructure to support this movement will also most likely be added to publics energy bill. Associated with cap- and-trade comes the thought that will this really reduce emissions. Currently since the Kyoto Protocol nations have simply began to ignore the protocol simply because they have weak national judicial branch or because there is no international police to enforce the regulations. With the globe constantly shrinking we are beginning to see many the regulations....
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This note was uploaded on 08/26/2011 for the course GEOGRAPHY 135 taught by Professor Staff during the Summer '11 term at UCSB.

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Cap vs Tax - Hunter Sapp June 29 th , 2011 Geography 135...

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