Carbon Cashback 4ME Campaign
When polluting is cheap, we get too much of it.
The late highly respected conservative economist and Republican statesman George Shultz spent his final years pointing out, with regret, that our greenhouse gas and global warming problems are the result of a massive “market failure” - the failure to set fossil fuel prices at levels that reflect their true costs – their “negative externalities.” In 2014 he became a strong proponent of “revenue neutral carbon pricing” as the rational and necessary correction to the market!
About the Campaign
Carbon Cashback 4ME is a campaign in which concerned volunteers with the Citizens Climate Lobby are seeking endorsements from Maine municipalities, businesses and community leaders in order to bring a practical, equitable, effective climate solution and constituent support for it to the attention of our elected policy-makers at the state and federal level.
Carbon Cashback, also known as Carbon Fee and Dividend, adds a pollution fee to fossil fuels based on the amount of CO2 they will emit when burned.
The fee is paid by producers, as their fuels enter into the market and collected and placed (by law) into a Carbon Trust Fund.
All the proceeds (less administrative funds) of this nationally applicable fee will be regularly disbursed to American households.
Higher priced fossil fuels will force industries to increase their energy efficiency, burn less fossil fuel, and switch to renewables where possible, while consumers will choose products that are less fossil fuel-intensive.
When less fossil fuels are burned, CO2 emissions drop proportionately.
The regular dividend check, equal for all individuals (half shares for children), will more than compensate the majority of households for increased prices.
As of October 2023 this policy is embodied in HR5744, The Energy Innovation Act, introduced by Senator Salud Carbajal, D, CA.
This carbon cashback policy is recognized by conservative and liberal economists alike as the most important single move we can make to turn the economy toward non-fossil fuels as swiftly as is necessary for a livable future.
What is the Right Carbon Price?
$100/tCO2 by 2030.
A recent study in Nature further supports the prices recommended by the groups listed at the top of this page. From that study
"For a 2050 net-zero CO2 emission target, prices are US$34 to US$64 per metric ton in 2025 and US$77 to US$124 in 2030. These results are most influenced by assumptions about complementary policies and oil prices."
These prices are achievable when we rebate all the money collected back to households on an equal basis each month.
We also know other complimentary policies are needed.
We have no time to waste for our climate - or for our economic future
Maine can become a clean energy supplier to the world and more competitive overall... if we get started right now!
See the En-ROADS climate policy modeling tool from MIT and Climate Interactive to compare the relative effectiveness of different policy options and identify complementary and redundant policies. Carbon pricing is our most powerful emissions reduction tool.
The Maine Resolution to Take Action on Climate Pollution
We the town of TOWNNAME hereby call upon our State and Federal elected representatives to enact carbon-pricing legislation to protect Maine from the costs and environmental risks of continued climate inaction. To protect households, we support a Carbon Fee and Dividend approach that charges fossil fuel producers for their carbon pollution and rebates the money collected to all residents on an equal basis. Enacting a Carbon Cash-Back program decreases long-term fossil-fuel dependence, aids in the economic transition for energy consumers, and keeps local energy dollars in Maine's economy. Carbon Cash-Back has been championed by US economists (Jan 17, 2019 WSJ) as the most effective and fair way to deliver rapid reductions in harmful carbon emissions at the scale required for our safety.
We expect our representatives to lead in this critical moment for the health and well-being of our citizens and for the protection of Maine's natural resources upon which we all rely.
The record of the vote approving this article shall be transmitted by written notice to TOWNNAME State Legislators, to the Governor of Maine, to TOWNNAME Congressional Delegation, and to the President of the United States, informing them of the instructions from their constituents, by TOWNNAME Select Board, within 30 days of this vote.