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.
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