Just when it appeared as though the United States was going to emerge from under the heavy hand the Organization of Petroleum Exporting Countries (OPEC), there are some in Washington licking their chops to increase the tax on fossil fuels used by Americans. In recent months the United States has been declared the world’s second largest oil producing nation, just behind Saudi Arabia.
So, enter climate alarmists, right on the heels of Hurricane Sandy and they’re stoking the fires that the earth is heating up and more storms, like Sandy, are in our nation’s forecast. Solution? A carbon tax.
“The purpose of a carbon tax would be to penalize fossil fuel use in hopes of reducing carbon dioxide emissions, which have been hypothesized to cause global cooling (1970s), global warming (1980s-1990s), climate change (2000s) and extreme weather (2010s),” according to a commentary in Investor’s Business Daily.
A carbon tax would all but crush any economic recovery in the U.S. It would spawn inflation. What’s the guarantee that such a tax would reduce or eliminate carbon emissions? None.
If all carbon emitting vehicles, heating sources, etc. were eliminated on Jan. 1, 2013 what would be the net effect on the U.S. economy. Not recessionary, not even depressive, but a total collapse.
Without engaging in an argument about the metric tons of carbon dioxide that is emitted into the atmosphere annually in the United States, let’s make a note that the United States is not alone in emitting carbon dioxide. China, India, and most of Asia are emerging into the growing number of users of fossil fuels. To stymey the U.S. economy with a carbon tax without addressing the world-wide impact of CO2, is comparable to blaming the United States for all of the world’s ills without looking at other contributing factors — i.e. the rest of the industrialized world.
Bottom line, we must look for cleaner sources of fuels. However, to eliminate or hamper the use of fossil fuels in the United States without a proven and dependable source of alternative energy is suicidal for our economy and the struggling economies of the world.
Let’s work on a practical solution, not more taxes on top of a heavily taxed, struggling U.S. economy.