Emblem courtesy of FFFFound! website

Of the books being sold about Global Warming and there are a number of excellent ones, they do not contain actionable policy recommendations. The effect of this is that the public reading these books are generally aware that Global Warming is a major problem and tough choices need to be made in the next decade. Unfortunately, the choices and why we can wait a decade to implement them remains vague.

Wilfred Candler’s book: “Global Warming: The Answer (The Energy Dividend)” published by AuthorHouse addresses the policy void with a simple philosophy: Get the prices right, and all else will follow.

Candler disposes immediately of the vague hope that personal virtue (changing light bulbs, driving a hybrid) or a carbon-neutral lifestyle (using carbon credits) can halt fossil fuel emissions. Candler points to the huge windfall profits associated with “cap and trade” policies, when caps are given to established polluters. He exposes the clay feet of this approach and offers a workable solution: a carbon tax ($250 per ton in the U.S.), which would be sufficient to double the price of fossil-based electricity, paid back to the citizenry as an energy dividend check ($230 per month initially).

The recent Lieberman-Warner Global Warming Proposal is basically a “cap and trade” proposal. As such, it runs directly counter to Candler’s policy proposals since it gives caps freely to major polluters and allows carbon credits to be used to exceed these caps. As a result, the government gets no revenue, and consumers will not be compensated for higher costs. The ineffectiveness of this legislation suggests a clear need for policymakers to study “Global Warming: The Answer.”

A revenue-neutral carbon tax has been mooted in academic circles for 20 years. It is designed to 1) elicit a demand-side response as consumers switch off more expensive electricity, buy more efficient appliances, and cut back on air travel, 2) elicit a supply-side response as venture capitalists and entrepreneurs realize they can undercut fossil-based electricity, and 3) buffer consumers against the inevitable higher costs associated with abandoning cheap (and poisonous) fossil energy.

(Ed.: An editorial comment to Mr. Candler’s book and an additional Global Warming/Climate Change comment will be posted next.)

About Wilfred Candler:

Wilfred Candler, Ph.D, D.Sc, has been a professor of agricultural economics at Massey University in New Zealand, and at Purdue University in Indiana. He is now retired from the World Bank, where he was Chief of the Special Topics Division of the Development Research Center, and latterly a Senior Evaluation Officer.

About AuthorHouse:

AuthorHouse is the premier book publisher for emerging, self-published authors.

Source for this post: AuthorHouse

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