Good to see that the EPA will start to require major industries to track and report their CO2 emissions. The important thing to remember is that assessing costs to those who emit greenhouse gases is completely in line with the tenets of capitalism, since emitting greenhouse gases imposes a cost on everyone that is not properly priced in the market (the costs--which are mostly deferred until the ecological shit really hits the fan--end up being socialized as governments bear the burden of cleaning up after the effects of global warming).
Carbon taxes correct a market failure--and you can't tax carbon if you don't know how much is being emitted.
Tuesday, March 10, 2009
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