Climate crash

06/22/2014 3:06 PM

06/23/2014 10:56 AM

"I feel as if I'm watching as we fly in slow motion on a collision course toward a giant mountain," writes former Treasury Secretary Henry Paulson, in an important New York Times Sunday opinion piece regarding climate change. Speaking from a Republican economist's point of view, his major points were as follows:

1. We need to institute a carbon tax now. This is a fundamentally conservative solution that will empower the market place to find the most efficient solution.

2. Viewed from the perspective of risk assessment and risk management, waiting for more information before acting is actually a very radical risk.

Failing to immediately reduce carbon emissions means enormous expenses to adapt to climate change or enormous costs for disaster recovery. All of this will result in bigger centralized government, higher taxes, a larger deficit and profound negative effects across our economy, i.e., a conservative's nightmare.

-- Harold Ferber, Elk Grove

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