Stephanie
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Whoohoo for Obama...those who voted for him....MORE TAXES coming your way...TSK TSK
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By Mathew Carr - Nov 7, 2012 10:05 AM CT.
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Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.
A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates. Applied to the Congressional Budget Offices 2012 baseline, this would halve the fiscal deficit by 2022, Robins said.
Hurricane Sandy sparked discussion on climate protection in the election after presidential candidates focused on other debates, HSBC said. A continued Republican majority in the U.S. House of Representatives means Obamas scope for action will be limited, Robins said. Cap-and-trade legislation stalled in the U.S. Senate after narrowly passing the house in 2009.
North American discharges fell 1.3 percent last year amid slowing economic growth. In China, the worlds biggest emitter, greenhouse gases from fuel use rose more than 9 percent in 2011, according to BP Plc (BP/) statistics published on June 13.
Cap-and-trade has been demonized and Obama probably wont seek to install such a program in his second term, Richard Sandor, founder of the worlds biggest carbon trading exchange in Europe, said today at the presentation in London of his book titled Good Derivatives.
New carbon trading programs in California, China and Brazil may encourage U.S. lawmakers to introduce greenhouse gas trading by about 2020, Sandor said.
Moral Authority
Weve lost our moral authority in the U.S., he said. You havent here in Europe.
Prices in the European Union carbon market, the worlds biggest by traded volume, dropped to a four-year low in April on surging supply and flagging demand.
Obama and the U.S. Congress should consider a carbon tax to help meet the governments looming need for revenue, according to the Center for Climate and Energy Solutions in Arlington, Virginia.
all of it here
Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says - Bloomberg
SNIP:
By Mathew Carr - Nov 7, 2012 10:05 AM CT.
.
Facebook Share
Google +1
684 Comments
Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.
A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates. Applied to the Congressional Budget Offices 2012 baseline, this would halve the fiscal deficit by 2022, Robins said.
Hurricane Sandy sparked discussion on climate protection in the election after presidential candidates focused on other debates, HSBC said. A continued Republican majority in the U.S. House of Representatives means Obamas scope for action will be limited, Robins said. Cap-and-trade legislation stalled in the U.S. Senate after narrowly passing the house in 2009.
North American discharges fell 1.3 percent last year amid slowing economic growth. In China, the worlds biggest emitter, greenhouse gases from fuel use rose more than 9 percent in 2011, according to BP Plc (BP/) statistics published on June 13.
Cap-and-trade has been demonized and Obama probably wont seek to install such a program in his second term, Richard Sandor, founder of the worlds biggest carbon trading exchange in Europe, said today at the presentation in London of his book titled Good Derivatives.
New carbon trading programs in California, China and Brazil may encourage U.S. lawmakers to introduce greenhouse gas trading by about 2020, Sandor said.
Moral Authority
Weve lost our moral authority in the U.S., he said. You havent here in Europe.
Prices in the European Union carbon market, the worlds biggest by traded volume, dropped to a four-year low in April on surging supply and flagging demand.
Obama and the U.S. Congress should consider a carbon tax to help meet the governments looming need for revenue, according to the Center for Climate and Energy Solutions in Arlington, Virginia.
all of it here
Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says - Bloomberg