The Carbon Taxes We’re Already Paying

Primary tabs

The Carbon Taxes We’re Already Paying

Guest Blog by Mark Schapiro, author of Carbon Shock: A Tale of Risk and Calculus on the Front Lines of a Disrupted Global Economy
tweet me:
Guest Blog from Mark @Schapiro http://bit.ly/1tnQ8At - The Carbon Taxes We're Already Paying via @Justmeans

Multimedia from this Release

Mark Schapiro is the author of "Carbon Shock: A Tale of Risk and Calculus on the Front Lines of a Disrupted Global Economy", to be published next month.

Tuesday, July 29, 2014 - 4:00pm

CAMPAIGN: CSR Blogs

CONTENT: Blog

In June, a decades-long open secret hit the media like a typhoon: Climate change is the fundamental economic challenge of our time.

The bipartisan troika of former New York Mayor Michael Bloomberg, hedge fund mogul Tom Steyer and former Treasury Secretary Henry Paulson funded the report, titled "Risky Business," which estimated that on its current trajectory, climate change could cost the U.S. economy hundreds of billions of dollars by 2050. President Obama cautioned environmental leaders at a League of Conservation Voters dinner to prepare the American public for the costs ahead from re-engineering the energy grid away from fossil fuels.

These assertions, as welcome as they are, leave out a fundamental question: When energy gets more expensive, who pays?

The fact is that American taxpayers are paying for the costs of climate change now. These costs don't hit us all at once but sporadically, in different places and at different times. They don't feel like a carbon tax, though they amount to one. Every time we use fossil fuels, we increase our tax burden, a burden that unfolds like a sequence of trap doors, just like climate change itself.

To continue reading, click here

Mark Schapiro is the author of Carbon Shock: A Tale of Risk and Calculus on the Front Lines of a Disrupted Global Economy, to be published next month.

Keywords: Environment | Carbon Shock | Carbon Tax | Mark Schapiro | energy grid | fossil fuels

CAMPAIGN: CSR Blogs

CONTENT: Blog