Economists Agree a Carbon Tax is Necessary

Published on January 23, 2019

A letter from forty-five economists was recently published in the Wall Street Journal, saying that a carbon tax is necessary in the United States and that it is the most cost effective way for the country to lower its greenhouse gas emissions.

Economists from all sides of the political spectrum extended their support for the carbon tax in the letter, including Alan Greenspan and a number of nobel laureates.

Greg Mankiw, Professor of Economics for Harvard University, has said that the carbon tax is not a controversial topic for economists, and that while the politics and international relations of the tax are complicated, the economics of it are simple.

Mankiw also believes that a carbon tax is the most conservative method for dealing with climate change, and that it has the least intrusive government involvement.

Within the proposed carbon tax, there would be a price levied on all goods and services that consume carbon.

This means that there would be higher prices for things like gasoline, utility bills, and air travel, but economists are vying for the extra revenue to be returned to American citizens, in order to help them prepare for and combat the effects of climate change.  

This would be in the form of rebates that can help encourage families to reduce their carbon footprint - whether that be in the form of buying a more efficient or electric car, or by making improvements to the energy efficiency of their home.

The carbon tax is also praised in the letter for its simplicity and straightforwardness, as there is no credit trading system similar to that found in cap and trade.

Ted Halstead, Chairman and CEO of the Climate Leadership Council, believes that this carbon tax could be passed by congress by 2021, and that it will become the bipartisan answer to climate change in the 2020 election year.

Using Available Rebates to Lower Carbon Emissions at Home

There are a number of home renovation rebates available to Ontario homeowners, including up to $5,000 of rebates for Union Gas and Enbridge customers. Having an Energy Assessment conducted in your home not only helps you qualify for these rebates, but it also shows you exactly which parts of your home could do with an energy efficiency upgrade.

As part of the assessment, our Registered Energy Advisors will list every possible way that your home could become more energy efficiency in terms of their cost effectiveness, allowing you to make an informed decision regarding your home renovation improvements. They are also happy to help you decide and make sense of which rebates are the best fit for you and your family’s needs.

By making upgrades to your home’s level of energy efficiency, you may notice that your home becomes more comfortable to live in, has better air quality, has lower utility bills, and even has a higher market value when it comes time to sell.

Quite often, a home can be made more energy efficient through simple and affordable modifications or retrofits, such as sealing unwanted air leaks, or improving the level of insulation in the attic. A Home Energy Assessment can show you the best options for improving the energy efficiency in your home, and an Airtightness Test can locate every area of unwanted air leakage. Contact BSG today and start your path towards a more energy efficient and affordable home!