10 Nov '11, 2pm

Cap & Trade's Failure Means It's Time for a Carbon Tax

Cap & Trade's Failure Means It's Time for a Carbon Tax

"I was a huge supporter of cap-and-trade," said Wayne Leonard , the CEO of Entergy, a $11 billion utility company. "We developed enormously elegant solutions, but they couldn't get done." Taxing carbon emissions is the next best way to deal with the threat of global climate disruptions, he said, in part because it would give the energy industry a degree of certainty about how to deploy its capital. "A simple tax on every one is a starting point," Leonard said. Proceeds could be used to reduce the federal deficit or rebated to consumers. Leonard spoke today (Nov. 9) at a launch event for the Center for Climate and Energy Solutions , a new organization that is succeeding the Pew Center on Global Climate Change. Eileen Claussen, who has directed the Pew Center for 13 years, will lead the new group, which has raised money from three so-called strategic partners -- Entergy, HP ...

Full article: http://www.greenbiz.com/blog/2011/11/10/cap-trades-failur...

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