The Benefits Of Climate Change

1956 Words8 Pages
Climate change is undoubtedly one of the most pressing threats we face today. A global issue, it is not confined to any single neighborhood of the globe; our entire planet is threatened by this menace. The overwhelming scientific consensus is that humans are causing the climate to warm by emitting immense amounts of greenhouse gases into the atmosphere. Global warming threatens to melt the ice caps, raise sea levels, and increase the potency and frequency of severe weather events. If immediate action is not taken the situation will only continue to deteriorate. We must move swiftly to curb our use of fossil fuels and transition to a green energy economy. Although this is by no means a small undertaking, it is vital that we do so to protect…show more content…
Such a system must be created and maintained, and a database constructed to keep track of the permits. Due to its market based approach, companies will also have to deal with the fact that the price of allowances is likely to fluctuate, adding unwanted volatility to their business plans. There is also the perennial problem of doling out the permits; no matter how they are distributed, there will almost certainly be those who claim that the process is inequitable. Critics of cap and trade point to this complexity as a significant pitfall of the policy…show more content…
For a carbon tax to be effective it must be high enough to cause some discomfort, so that people are inclined to change their behavior, yet not so high as to unduly harm the economy. This is especially critical as there is no limit placed on emissions; if companies find that it is cheaper to pay the tax than to upgrade their equipment the tax will have no effect on stemming global warming. Additionally, if the tax is perceived as destroying jobs or raising energy prices significantly, the policy will likely face public resistance and possibly a repeal campaign
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