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Global warming could be economic opportunity

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To the editor:

If you don’t like regulations, you will like this:

President Obama has announced the new EPA regulations to reduce emissions at U.S. power plants. If some people are opposed to more government regulations, a revenue-neutral carbon tax provides a market-based alternative to regulation.

Carbon tax detractors say that it would kill jobs, but REMI studies (see below) show that a carbon tax, done the right way, will actually create jobs, and in 10 years, a carbon tax that increases $10 per ton of CO2 a year will reduce emissions by 33 percent.

The right way to do a carbon tax is to return all revenue to households. This would generate tremendous economic growth when the revenue reaches the public. Global warming can be looked at as an economic opportunity because of the jobs created when the public gains buying power because of their increased revenue.

The recent National Climate Assessment (NCA) on the impact of climate change in the U.S. leaves no doubt that something must be done to reduce greenhouse gas emissions. To see the effect on Minnesota, go to http://www.climatesciencewatch.org/2014/05/13/2014-national-climate-asse...

Since 1980, REMI (Regional Economic Models, Inc.) has conducted economic impact studies for an impressive list of clients, including The Atlanta Regional Commission, Ernst and Young, the California Department of Finance, the Massachusetts Institute of Technology (MIT), and the Tennessee Valley Authority (TVA), to name just a few.

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