Carbon Tax vs. Cap and Trade

1287 Words3 Pages

“All across the world, in every kind of environment and region known to man, increasingly dangerous weather patterns and devastating storms are abruptly putting an end to the long-running debate over whether or not climate change is real. Not only is it real, it's here, and its effects are giving rise to a frighteningly new global phenomenon: the man-made natural disaster.” BARACK OBAMA, speech, Apr. 3, 2006. Climate change is not a theory contrary to what many individuals believe and is in fact confirmed by major scientific agencies such as the National Oceanic and Atmospheric Administration (NOAA) and the National Aeronautics and Space Administration (NASA) in the United States. Global Warming causes are mainly due to greenhouse gases that are trapped in the atmosphere and cause depletion of the earth’s ozone layer. Carbon Dioxide is a greenhouse gas, and although it is a necessary component in our atmosphere as it helps plants perform photosynthesis, too much of it causes ozone depletion and therefore climate change. Carbon Dioxide levels in the atmosphere have increased tremendously after the industrial revolution, which indicates that the major cause of this issue is due to anthropogenic activities.

The issue presented in this paper is how one can aim to reduce the amounts released, and what the best ways to solve this problem are. This has been long debated amongst scientists, businessmen, Industry-owners, and politicians amongst many other eminent figures in society. The four major approaches to reducing carbon dioxide in the atmosphere include: subsidies of alternative energy, cap and trade, carbon taxes, and command and control regulation. We will examine and compare the effectiveness of two of these methods: The carb...

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...world-carbon-emissions>.

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