Dodd's Carbon Tax Proposal

It's hard not to like Chris Dodd, especially when he keeps making so much sense.  Dodd's plan on a corporate carbon tax is here.

 This country has serious serious problems and it's going to take global cooperation the likes of which we've never seen or even imagined to have a chance of solving them.  One of the steps along the way is to consider structural changes to our economy so that spewing carbon into the atmosphere is expensive.  

This isn't just a plan, either.  This is one area where jawboning actually has an effect, as we've seen with private equity groups taking over energy producers and shuttering their carbon spewing plans.  Energy planning cycles are 20-30 years long, so industry people tend to try and anticipate and plan around probable legislative initiatives.  A carbon tax is something Wall Street has been anticipating for some time, which means that capital risk to polluting industries is going to increase.  This is especially true when a Presidential candidate puts it on the table for debate.  And lest we forget, Dodd is the Chair of the Banking Committee, which has pretty broad sweep on currency issues.  

Anyway, since MyDD has become obscure-but-very-important-policy blog, I'd figure I'd mention this.  A carbon tax hasn't been seriously considered since Clinton sold out Democratic members of Congress on the BTU tax in 1993.  And now it's in the Presidential race.



Display:


Re: Dodd's Carbon Tax Proposal (none / 0)

Pressure's on ... I hope this technology works.

Tim


by Tim Tagaris on Thu Apr 19, 2007 at 12:12:36 PM EST

Re: Dodd's Carbon Tax Proposal (none / 0)

Speech is running just a bit late ... we're gonna start the broadcast now to take UStream.tv for a jog before the race.

Tim


by Tim Tagaris on Thu Apr 19, 2007 at 12:15:37 PM EST
[ Parent ]

You can embed the speech on your site (none / 0)

Here

Ok, I am spamming the thread now.

Tim


by Tim Tagaris on Thu Apr 19, 2007 at 12:21:20 PM EST

Re: Dodd's Carbon Tax Proposal (3.00 / 1)

Dodd is a very bright, thoughtful and somewhat charasmatic guy who I just sense time has passed by.  If Gore hadn't been the heir apparent in 2000, he could have been a serious contender.  I just don't see it in 2008.

Re BTU Tax - Clinton was actually sold out by oil state Dems in the Senate (we had some in 1993) like David Boren, John Breaux and Bennett Johnston.  Clinton needed every vote he could muster in 1993 since Gore had to break a 50-50 tie in the Senate on 1993 budget so he had little choice but to cave in on the BTU tax.  I blame the parochial interests of the oil state Dems more than Clinton.


by John Mills on Thu Apr 19, 2007 at 12:41:34 PM EST

Re: Dodd's Carbon Tax Proposal (3.00 / 1)

John is right about the 1993 BTU tax history, I'll just add that Clinton's proposal was also a victim of one of the most sophisticated grassroots/astroturf lobby campaigns ever mounted before or since by the business groups (NFIB, Am Petrolium Insitiute, US Chamber), etc.  Clinton's proposal was right on substance but a lot of the details were half-baked & the White House made a lot of rookie mistakes.  Clinton got burned and he never went up against the business lobby on this topic during the rest of the term.

In the interest of full disclosure, in my reckless youth, in 1993, I was part of the lobby team for big business and polluters on this issue.  Perhaps more than any issue I ever worked on for the dark side, I regret this one the most.  If Dodd's idea ever gains traction big business will go after it, hard, very hard with buckets of cash. Don't underestimate the opposition.


by howardpark on Thu Apr 19, 2007 at 01:29:40 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

There was another problem with the BTU tax:  it taxed energy, not carbon.  Be bypassing the simple logic of taxing the bad thing (pollution), it became a complex, the easily abused web ready for infested by lobbyists and special interests.  They had to create categories of "bad energy" (basically oil & gas) and "good energy" (natural gas & renewables).  Then everyone started questioning why natural gas was good (One of Clinton's top aides, possibly the sec. or energy, had been the prez. of a natural gas company.)  Next there's lobbying to make home heating oil good, etc.

In short, it was very analogous to the health care debacle.  Rather than a simple, elegant system which works (single payer health care/carbon tax), Clinton chose a really complicated system with no internal logic.  Which meant that the people who favored it were less enthusiastic and couldn't really argue with a straight face that this was what really needed to happen, while the "antis" fight everything with equal vigor, mainly to keep in practice as far as I can tell.

As to Dodd's proposal, major points to Chris Dodd!   I hope he's serious about this and pushes it hard in the senate.


Get a Vegetarian Starter Kit and a Dem. Party Mastercard
by Go Vegetarian on Thu Apr 19, 2007 at 02:12:58 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

Good point about the astroturf lobbying.  We represented a heavily Dem district and they were so desparate to get calls against the bill into our office they were connecting people from all over the country.  Since my old boss had no intention of going above the House, all it did was make us mad and fire him up in an effort to round up votes for the bill.

The votes were so close in the House and Senate virtually every Dem member of both chambers had veto power over provisions they didn't like.  At the time, I was still pretty young and idealistic and was extremely upset that it took so much effort to get that bill passed.  However, now it would make an excellent political science study now on how NOT to handle a large, controversial spending package.
 


by John Mills on Thu Apr 19, 2007 at 02:53:47 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (3.00 / 1)

Another thing: the Treasury Secretary at the time of Clinton's proposed BTU Tax was Lloyd Bentsen from the great state of Texas.  Think old Lloyd, RIP, was behind his "boss"?  Of course not.  It's tough to get a tax through Congress when your own Treasury Secretary is not with you.


by howardpark on Thu Apr 19, 2007 at 03:37:07 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

Totally forgotten that one.  Yes - good ole Lloyd did not like the BTU tax one bit.


by John Mills on Thu Apr 19, 2007 at 03:43:29 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

Thank you.

It appears chris and matt are incapable of talking about anything without dissing a clinton.

i know this is how one boosts up cred in the blogosphere, but it's getting out of hand.

Here is a very informative diary:


It's hard not to like Chris Dodd, especially when he keeps making so much sense.  Dodd's plan on a corporate carbon tax is here.

This country has serious serious problems and it's going to take global cooperation the likes of which we've never seen or even imagined to have a chance of solving them.  One of the steps along the way is to consider structural changes to our economy so that spewing carbon into the atmosphere is expensive.  

This isn't just a plan, either.  This is one area where jawboning actually has an effect, as we've seen with private equity groups taking over energy producers and shuttering their carbon spewing plans.  Energy planning cycles are 20-30 years long, so industry people tend to try and anticipate and plan around probable legislative initiatives.  A carbon tax is something Wall Street has been anticipating for some time, which means that capital risk to polluting industries is going to increase.  This is especially true when a Presidential candidate puts it on the table for debate.  And lest we forget, Dodd is the Chair of the Banking Committee, which has pretty broad sweep on currency issues.  

Anyway, since MyDD has become obscure-but-very-important-policy blog, I'd figure I'd mention this.  A carbon tax hasn't been seriously considered since 1993.  And now it's in the Presidential race.

here's the same diary written by someone trying to get ahold of some of the my left wing crowd:


It's hard not to like Chris Dodd, especially when he keeps making so much sense.  Dodd's plan on a corporate carbon tax is here.

This country has serious serious problems and it's going to take global cooperation the likes of which we've never seen or even imagined to have a chance of solving them.  One of the steps along the way is to consider structural changes to our economy so that spewing carbon into the atmosphere is expensive.  

This isn't just a plan, either.  This is one area where jawboning actually has an effect, as we've seen with private equity groups taking over energy producers and shuttering their carbon spewing plans.  Energy planning cycles are 20-30 years long, so industry people tend to try and anticipate and plan around probable legislative initiatives.  A carbon tax is something Wall Street has been anticipating for some time, which means that capital risk to polluting industries is going to increase.  This is especially true when a Presidential candidate puts it on the table for debate.  And lest we forget, Dodd is the Chair of the Banking Committee, which has pretty broad sweep on currency issues.  

Anyway, since MyDD has become obscure-but-very-important-policy blog, I'd figure I'd mention this.  A carbon tax hasn't been seriously considered since Clinton sold out Democratic members of Congress on the BTU tax in 1993.  And now it's in the Presidential race.


by Stewieeeee on Thu Apr 19, 2007 at 01:36:43 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

That would be great!  How's he planning to do it?  A phase in over, say 20 years?  You know, you could do it for citizens as well in a way that would assure their support.  BruceMcF on Kos proposed a carbon tax on the population whose revenues would be divided by the number of citizens and paid to each and every citizen, man, woman, and child.  Phase it in over twenty years, and it's palatable for almost everyone.  And the poor don't get burned.  And in no time we'll all be bicycling and planting trees.


by prince myshkin on Thu Apr 19, 2007 at 12:49:44 PM EST

Carbon Tax vs Cap and Trade (none / 0)

There is a very serious, and seriously wonky, debate over whether a Cap and Trade system, which Edwards has proposed, or a Carbon Tax would be better to reduce carbon emissions.  As I unserstand it the big plus of a Cap system is more predictable reductions in carbon.  

In any case I am glad Dodd is adding another serious climate/energy proposal.

For the record, Gore supports a combo of both caps and taxes.


by MassEyesandEars on Thu Apr 19, 2007 at 02:30:53 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

You'd be a lot closer to an "obscure-but-very-important-policy blog" if you stopped including jabs like this: "A carbon tax hasn't been seriously considered since Clinton sold out Democratic members of Congress on the BTU tax in 1993."

Kudos to Chris Dodd for making this a part of his campaign.  Everything I read about him makes me think he's a good Democrat and candidate - in any other election he might go somewhere but I just can't see him getting any traction this time around.  We can hope that some of the issues and ideas he is choosing to highlight will be forced into the campaign and get picked up by the more likely nominees, at least.


by Baldrick on Thu Apr 19, 2007 at 12:52:04 PM EST

I like Chris Dodd, but... (none / 0)

please, no more northeastern senators as our presidential nominees.

Also, if Dodd did become president we would automatically lose a senate seat (GOP governor would appoint his successor).

Let Chris Dodd work toward good, progressive change from the position he currently holds.


John McCain: 100 years in Iraq "would be fine with me."
by desmoinesdem on Thu Apr 19, 2007 at 12:59:34 PM EST

Re: Dodd's Carbon Tax Proposal (none / 0)

Dodd's one of my US Senators and he's a really good guy.  The guy's been in the Senate for a zillion years and I've never heard of a whiff of scandal about his tenure.  Unfortunately, I don't think he's going to be able to get much traction in the Presidential race given the current crowd competing for the nomination.  In a more just world, he would be considered one of the front-runners.

This carbon tax proposal represents the type of forward thinking which has always characterized Dodd and the role he's pursued in the Senate.  I'd love to see him become part of the Democratic ticket in 2008, but success even there would be bittersweet.  The sleazebag Publican governor we've got in CT would just wind up appointing a kewl-aid drinking zombie to the Senate to replace him (and I suspect the nominee would be Chris Shays after losing his last House bid next year).


by VizierVic on Thu Apr 19, 2007 at 12:59:37 PM EST

Re: Dodd's Carbon Tax Proposal (none / 0)

Any chance yall could pull a Massachusetts and strip the appointment power from the governor?  Mass has a veto-proof Dem majority in the legislature, but I doubt CT does as well.  On the other hand, it might not be that hard to get an initiative on the 2008 ballot that calls for a special election 90 days from any Senate vacancy.  Voters would pass that pretty easily, I'd think.  No one likes the idea of their governor getting to choose their Senator for them.


by texas dem on Thu Apr 19, 2007 at 03:12:40 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

"...Mass has a veto-proof Dem majority in the legislature, but I doubt CT does as well.  On the other hand, it might not be that hard to get an initiative on the 2008 ballot that calls for a special election 90 days from any Senate vacancy.>>"

CT Democrats gained a veto-proof majority in both the House and the Senate in the 2006 elections.  The margins aren't substantial, particularly in the Senate, but enough to overrule anything Jodi Rell might veto.

I'm pretty sure that CT doesn't have initiative or referendum provisions in its Constitution, so that avenue of approach is not available.  


by VizierVic on Thu Apr 19, 2007 at 09:36:30 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

Why is it a video that starts playing right away without prompt?


by Jerome Armstrong on Thu Apr 19, 2007 at 01:17:31 PM EST

Re: Dodd's Carbon Tax Proposal (none / 0)

It's not.  You gotta hit the play button.  At least on my computer and everyone elses seen.

Tim


by Tim Tagaris on Thu Apr 19, 2007 at 01:20:02 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

Hm, starts automatically on mine. latest firefox.


by Jerome Armstrong on Thu Apr 19, 2007 at 01:21:12 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

Latest firefox here as well.

Let me talk to the folks at UStream.

If it's still running for you like that, want me to move it below the fold?  Or you move it below the fold?

Tim


by Tim Tagaris on Thu Apr 19, 2007 at 01:30:39 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

It started automatically on my system but the feed was spotty -- like every third word.


by howardpark on Thu Apr 19, 2007 at 01:34:00 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

Just like here

Tim


by Tim Tagaris on Thu Apr 19, 2007 at 01:20:50 PM EST
[ Parent ]

Self-starting video (none / 0)

And even after you pause it, it turns itself back on after awhile.  Definitely annoying.

Maybe Matt could edit his post so the video's behind a "Read More" tag?


by RT on Thu Apr 19, 2007 at 01:21:15 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (none / 0)

I think a carbon tax is absolutely necessary.  So has anyone come out against one?

As a Presidential candidate, Dodd's stuck behind other candidates who can't get their message out.  Even Edwards can't get much coverage; if Elizabeth hadn't had a recurrence of her cancer, a lot fewer people would even know he's running.

And behind Edwards, Bill Richardson can't get heard at all.  And Dodd's stuck somewhere back of Bill Richardson.

That's why I wish we could have a primary or caucus this June: we need something, anything, to break up the media's Hillary-v.-Obama meme that the WaPo rolled out as a theme the Sunday after the midterm elections.


by RT on Thu Apr 19, 2007 at 01:17:50 PM EST

Clinton's a sell out?? (none / 0)

What a stupid comment.

Just can't make a good post without dissing a Clinton.

When Dodd's president and he has to make a concession on this issue as well to get something passed, then you can call him a sell out too.

now that mydd has such influence.  anyway.


by Stewieeeee on Thu Apr 19, 2007 at 01:21:01 PM EST

Re: Dodd's Carbon Tax Proposal (1.00 / 1)

The video started for me as soon as I opened the page in a new tab.  I stopped it, and now it won't start again.  Firefox 2.whatever.

Carbon tax sounds like stupid people are still actively believing CO2 causes global warming, and that we absolutely have to do something about global warming.  Look: it doesn't and we can't.  The earth is in a warming cycle.  It comes from the sun (imagine that) and there's nothing we can do about it.

http://video.google.com/videoplay?docid= 4499562022478442170 if you've got 75 minutes to invest in a little educational material.


by EdB on Thu Apr 19, 2007 at 01:38:13 PM EST

I'll rise to the bait. (none / 0)

From Carl Wunsch, featured in your "educational material":

What we now have is an out-and-out propaganda piece, in which there is not even a gesture toward balance or explanation of why many of the extended inferences drawn in the film are not widely accepted by the scientific community. There are so many examples, it's hard to know where to begin, so I will cite only one: a speaker asserts, as is true, that carbon dioxide is only a small fraction of the atmospheric mass. The viewer is left to infer that means it couldn't really matter. But even a beginning meteorology student could tell you that the relative masses of gases are irrelevant to their effects on radiative balance. A director not intending to produce pure propaganda would have tried to eliminate that piece of disinformation.

An example where my own discussion was grossly distorted by context:

I am shown explaining that a warming ocean could expel more carbon dioxide than it absorbs -- thus exacerbating the greenhouse gas buildup in the atmosphere and hence worrisome. It was used in the film, through its context, to imply that CO2 is all natural, coming from the ocean, and that therefore the human element is irrelevant. This use of my remarks, which are literally what I said, comes close to fraud.

I have some experience in dealing with TV and print reporters and do understand something of the ways in which one can be misquoted, quoted out of context, or otherwise misinterpreted. Some of that is inevitable in the press of time or space or in discussions of complicated issues. Never before, however, have I had an experience like this one. My appearance in the "Global Warming Swindle" is deeply embarrasing, and my professional reputation has been damaged. I was duped---an uncomfortable position in which to be.


by The Cunctator on Thu Apr 19, 2007 at 01:53:32 PM EST
[ Parent ]

Re: Dodd's Carbon Tax Proposal (3.00 / 1)

I wish people would stop saying "it's too bad Dodd can't gain any traction, because I like him and he is running a good campaign."  If enough people drop the first half of that sentence....that IS traction.


www.georgetownprogressive.com
by leaveonlyfootprints on Thu Apr 19, 2007 at 02:54:37 PM EST

Umm Dodd isn't the first candidate getting serious (none / 0)

about the environment.

Edwards cap system is also a form of a carbon tax:


Cap and Reduce Global Warming Pollution: Edwards will set an economy-wide limit on the emission of carbon dioxide and other greenhouse gases. He will build on the precedent of the Clean Air Act of 1990 -- which limited pollution causing acid rain through a sulfur dioxide cap-and-trade system -- to reduce pollution in a cost-effective and flexible manner.
Use Science to Set the Caps: Edwards will cap greenhouse gases at levels that the latest climate science has determined to be necessary to avoid the worst impacts of global warming. He will cap greenhouse pollution starting in 2010, reduce it by 15 percent by 2020, and reduce it by 80 percent by 2050, consistent with the most aggressive plans under consideration in Washington.
Make Polluters Pay: Edwards will auction off a portion of the pollution permits to raise $10 billion a year for a New Energy Economy Fund to jumpstart clean, renewable, and efficient energy technologies and create 1 million jobs. Other permits will be sold or given away.

http://johnedwards.com/about/issues/ener gy/new-energy-economy/


by okamichan13 on Thu Apr 19, 2007 at 03:35:24 PM EST

Those Who Have Read (none / 0)

http://chrisdodd.com/energy_independence /plan
I thought it was very wise to include the eighth point of his outline; by doing so, Dodd demonstrated that he realizes that only a holistic approach to combatting carbon emissions will be effective, and that will necessarily include looking at petroleum use in agriculture.
However, for those who have read the economist article, "America's Ethanol Drive" (apr. 4, 07), the preceding point is troubling. The essential point of this article is that the current subsidy for corn based ethanol is little more than pork that actually undermines the health of the environment. Corn based ethanol is notoriously inefficient, possibly requiring greater petroleum consumption, rather than less. More efficient sugar based ethanol is scorned because it grows in tropical areas; Congressman exhibit a strong bias towards products that allow them to send cash back to their district, in this case, without regard to how that may undermine the effficacy of the program. Essentially my concern is that while Dodd may be providing a very well thought out program, the enthusiasm generated by such a policy may obscure critical structural flaws in the plan.
by anku on Thu Apr 19, 2007 at 08:46:45 PM EST


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