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Opinion/Letter: Politicians should support a carbon tax

Opinion/Letter: Politicians should support a carbon tax

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Politicians should support a carbon tax

Recently, Exxon lost two board seats to an activist hedge fund over climate crisis issues. Sixty-one percent of shareholders endorsed further reductions in carbon emissions at Chevron. A Dutch court directed Shell oil to significantly reduce its emissions.

There is widespread public and business support for action on the climate crisis.

Over 3,500 economists have said, “A carbon tax offers the most cost-effective lever to reduce carbon emissions at the scale and speed that is necessary. By correcting a well-known market failure, a carbon tax will send a powerful price signal that harnesses the invisible hand of the marketplace to steer economic actors toward a low-carbon future.”

The U.S. Chamber of Commerce has endorsed “a market-based approach to accelerate [greenhouse gas] emissions reductions across the U.S. economy,” and the Business RoundTable supports a market-based price on carbon.

There has been a bill introduced in Congress, the Energy Innovation and Carbon Dividend Act of 2021. This bill would put a price on carbon and return to the American people the revenues thus generated.

Let’s get our politicians behind action on the climate crisis. Call your representatives today and urge them to support a price on carbon.

Clement “Kim” Tingley

Charlottesville

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