U.N. climate chief skeptical about global carbon tax - Reuters

[Eugene]

Source: Reuters

U.N. climate chief skeptical about global carbon tax
Wed Aug 1, 2007 8:05PM EDT

By Deborah Zabarenko, Environment Correspondent

UNITED NATIONS (Reuters) - A top U.N. climate change official voiced
doubt on Wednesday about a global tax on carbon, but said national
taxes were possible and laws to cap global warming emissions were
better for business.

-snip-

International agreement on such a tax would take a long time, de Boer
said, and it might take even longer to get the tax proceeds to the
United Nations to deal with global warming.

-snip-

He favored so-called cap-and-trade laws, which limit carbon emissions
and offer a way for those who emit more than the limit to buy carbon
credits from those who emit less.

"What the business community is calling for at the moment is long-
term certainty, clear emissions caps imposed by governments so that
they know what kind of investment decisions they have to make,"
de Boer said.

-snip-

Read more: http://www.reuters.com/article/scienceNews/idUSN3124057820070802

[GliderGuider]

1. The global nature of the problem set is what makes me skeptical of proposals like carbon taxes.

To be truly effective any global solution has to have trans-national buy-in, from at least the top CO2 producers. I doubt that such agreements can be reached in time. This skepticism extends to cap-and-trade and rationing schemes as well.

In addition, any solution that depends on "investment decisions" is doomed to failure. The global economy is simply not structured to support the draconian changes required to meet the challenge. It will nibble around the edges, but corporate fears of violating their fiduciary duty to their shareholders will preclude any adequate response.

[Dogmudgeon]

2. Carbon pollution will be commoditized instead

The financial world aims to trade in pollution and extract huge amounts of money from the governments (read: the people) to control their industrial excreta.

It will be like making money from selling tickets to your own suicide.

--p!

[phantom power]

3. Yeah, they're happy to "trade," but I think the "cap" will... uh... fall thru the cracks.