Policymakers in the United States and elsewhere have assumed for 15 years that putting a price on carbon would be an effective strategy for addressing climate change. Nations would price carbon emissions, cap carbon production levels, ratchet down the cap over time, allow carbon emitters to pay for their continued use of carbon but at an ever-increasing cost, and use this market mechanism to price carbon emissions into a steep decline. This market-forcing would spur the introduction of innovative new technologies into energy markets, displacing fossil fuel technologies.
展开▼
