February 28, 2007
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Published July 1988 through June 1999
FROM VOLUME 5, NUMBER 9, SEPTEMBER 1992
The Right Climate for Carbon Taxes: Creating Economic Incentives to
Protect the Atmosphere, R.C. Dower (World Resources Inst.), M.B. Zimmerman
(Alliance to Save Energy), July 1992, $9.95 + $3 shipping. WRI Publications, POB
4852, Hampden Sta., Baltimore MD 21211.
A carbon tax strategy is the best approach for curbing CO2 emissions, and if
coupled with lower taxes on income and investment, could promote economic growth
and development as well. A successful tax strategy, which would avoid the
complexity and costs of a regulatory approach, must: (1) minimize short-term
economic losses by careful use of the revenue generated by the tax; (2) maximize
economic returns by lowering other tax rates; and (3) compensate those who are
adversely affected. A number of recent studies show that recycling the revenue
from a $40/ton carbon tax would actually increase gross national product, while
not necessarily harming the U.S. balance of trade.
The Potential Effects of Greenhouse Gas Control Initiatives on the
Primary Metals Industry: A Preliminary Analysis of Carbon Taxes, L.D. Maxim,
S.J. Dunne, 100 pp., 1992. Available from Amer. Mining Congress, 1920 N St. NW,
S. 300, Washington DC 20036 (202-861-2855).
This pilot study, soon to be followed by a more thorough one, examines the
impact on seven different metals industries of a $10/ton carbon tax that
increases to $100/ton by the year 2000. Energy price increases could be
substantial, especially for aluminum, and possibly copper, zinc and lead. (See
Energy, Econ. & Clim. Change, pp. 14-15, June 1992.)
Global Oil Report, Vol. 3, No. 3, 1992, Ј100/$190.
Ctr. for Global Energy Studies, 17 Knightsbridge, London SW1X 7LY, UK.
World demand for crude oil may fall by 20% following the introduction of a
flat rate carbon tax in industrialized countries; large differences in final
selling prices of energy are likely to hinder attempts to slow the rate of CO2
emissions. Unless steps are taken to level the oil and energy price playing
field, it will be difficult to reach agreement on measures to limit CO2. (See
Intl. Environ. Rptr., p. 493, July 29, 1992.)
Pricing Environmental Risks, W.K. Viscusi, 26 pp., June 1992, no
charge. Ctr. Study Amer. Business, Campus Box 1208, Washington Univ., St. Louis
MI 63130 (314-935-5630).
The U.S. EPA has one of the worst governmental records when it comes to
proposing risk-reduction policies for which costs far outweigh benefits. Energy
sources should be taxed to cover the full social costs of their consumption and
to increase resources for improving the environment. ("Social costs"
evaluated in this analysis do not include greenhouse emissions.)
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