ANNAPOLIS, Md., Jan. 17, 2008 --
What? Yet another book on global warming? Yes, and it is
needed. While there are a number of excellent books explaining
the problem of global warming, these are surprisingly devoid
of actionable policy recommendations. The result is that the
reading public is generally aware that global warming is
serious and tough choices need to be made in the next decade.
However, what the choices are and why we can wait a decade to
implement them remains vague.
"Global Warming: The Answer (The Energy Dividend)" (published
by AuthorHouse - http://www.authorhouse.com), the new book by
Wilfred Candler, steps directly into 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.
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.
AuthorHouse is the premier book publisher for emerging,
self-published authors.
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