Would it not be more effective to eliminate carbon tax and cap trades and use the capital for innovation?
The carbon trade doesn't make a dramatic impact on cutting carbon emissions in my opinion. I think we need to slowly drive up the cost of using fossil fuels through taxes. Then instead of letting a company sell of carbon credit to another company, essentially causing the same aggregate quantity of pollution companies should use that capital to make their business and surrounding environment more green. I feel that amount of capital use to buy products and invested in green energy companies can be utilized to foster innovation to assist in gravitating our nation and economy to a more green, carbon free, and less pollution direction. I understand the initials cost would be extremely high but innovation and investments now would slowly cripple the costs. Portugal produces 45% of their energy from renewable energy provided the Portugese paid twice as much for electricity for the last 5 years.
The government collects the taxes and then decides what industries and what companies will be favored. The government bureaucracy decides who the winners and losers will be. The politicians will decide on what innovations are to be "invested" in and of course there will be no hint of politics in those decisions. Politicians with enormous sums of money at their disposal playing politics ? nah.
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