Global warming and the attendant sea level rise caused by GHGs is the greatest long-term threat to the civilization we have built over the past several hundred / thousand years along ports, the coast, and deltas. I am committed to do what I can both in Richmond and in the nation as a whole, to promote the most viable ideas for public-private partnerships to overcome our challenges.
What are Personal Carbon Trading Markets (PCTM), and why are they so great?
In a PCTM, the federal government allocates its GHG target equally among all citizens; businesses have to purchase their GHG on the market. Since businesses have to purchase their GHG on the market, the overwhelming majority of citizens will be able to sell part of their allocation and make a tidy profit. The lower your GHG use, the more GHG you will be able to sell on the market; the more aggressive the GHG target, the higher the price most folks will get for their GHG. PCTM is also more equitable since the poor generally use less GHG. And it will rely on the market to achieve GHG reductions while taking away indirect subsidies for GHG producers.
Why is PCTM the best and most viable solution to reducing Green House Gasses?
Currently, the GHG problem is primarily political. The Republicans want to continue indirect subsidies to GHG producers because those producers form its core. The Democrats want to appropriate any taxes / subsidy removal revenue for the government. Whenever you line up any interest against the government, in American politics, today, the government will lose. The solution I outlined takes care of the “political will” problem by ensuring that GHG reductions will give a financial windfall to the overwhelming majority of citizens. It also has the advantage of being trivial to implement.