Successful Uses of a Carbon Tax and a Sovereign Wealth Fund

We’re back from a lovely vacation in France and are ready to resume our exploration of the Green New Deal from a practical point of view.

Those who have read earlier posts can be forgiven if they start shaking their heads at the amount of money each individual portion of the GND seems to cost. The Green New Deal will cost a lot of money, although much of it will be obvious investments with an expected and forecast-able return.

But housing half a million homeless and offering tax subsidies for solar panels and electric cars doesn’t come cheap. And that’s just two of the initiatives we’ve discussed.

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Is The 12 Year Target For Zero Emissions A Hard Target?

Let’s talk about time. The Intergovernmental Panel on Climate Change (IPCC) wrote a special report on what will happen if global average temperature rises above 1.5C. They say that if we don’t get to zero emissions by 2050… well let’s let them say it and let’s start with the good-ish news:

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Moonshot or Pyramids?

Should the U.S. decide to pursue the Green New Deal, there are different approaches to take–but although one is probably optimal, we can expect to pursue two parallel tracks at different rates of speed.

One is brute force–we mandate (and probably finance) the environmental aspects of the GND, build out the needed solar and wind power generation, require a changeover to an electric fleet, and use regulation and legislation to push people into desired behaviors. We liken this to ancient Egyptians building the pyramids with slave labor, but then we’re harsh critics at times.

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