Carbon-Tax Would Hobble Our Economy
The share of U.S. electricity that comes from coal is forecast to fall below 40 percent this year, its lowest level since World War II, and down from 50 percent four years ago.
By the end of this decade it is likely to be near 30 percent. Now, we need to export U.S. technology for seismic imaging, hydraulic fracturing and horizontal drilling to other countries with large shale-gas deposits. Spreading advanced energy technologies globally would lower the cost of controlling emissions substantially.
By using advances in technology, we can expand the use of natural gas, nuclear power and renewable energies and achieve a substantial reduction in carbon emissions, without resorting to a carbon tax that would hobble our economy.