[Congressional Record Volume 153, Number 68 (Thursday, April 26, 2007)]
[Extensions of Remarks]
[Pages E882-E883]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  INTRODUCING THE SAVE OUR CLIMATE ACT

                                 ______
                                 

                        HON. FORTNEY PETE STARK

                             of california

                    in the house of representatives

                        Thursday, April 26, 2007

  Mr. STARK. Madam Speaker, I rise today to introduce a simple solution 
to the global warming problem, a carbon tax.
  This past Sunday, we celebrated Earth Day. Today, in Earth Day's 
honor, I propose the Save Our Climate Act. The first Earth Day in 1970 
led to new laws to improve air and water quality, and was an important 
impetus for the creation of the Environmental Protection Agency. On 
Earth Day 2007, climate change is the preeminent environmental concern. 
I hope 2007 will be remembered as the year we addressed global warming 
by passing the Save Our Climate Act.
  Climate change is a worldwide problem requiring each nation to do its 
part. The International Panel on Climate Change--600 of the world's 
leading scientists--suggests that temperatures may increase three to 
seven degrees Fahrenheit in the next century. Al Gore's ``Inconvenient 
Truth'' may have seemed like a scare tactic, but if we don't wake up to 
the realities presented in his documentary, we will soon wake up to 
flooded coastlines, unfarmable plains, and species extinction.
  To date, the United States has failed to take necessary steps to 
reduce greenhouse gas emissions. Though the U.S. emits approximately 
six billion metric tons of carbon dioxide (CO2) each year--comprising 
nearly 24 percent of the world's total emissions--we have failed to 
ratify the Kyoto Protocol. If we continue our refusal to act, we cannot 
expect other countries to do their part.
  The vast majority of environmentalists and climate change experts 
agree that we need to reduce CO2 emissions by 80 percent by the year 
2050 in order to stop the current pace of climate change. Every year we 
delay enacting legislation to slow climate change makes it that much 
more difficult to stop global warming.
  Economists widely agree that a carbon tax is the best way to reduce 
carbon dioxide emissions and save our planet from catastrophic climate 
change. The Save Our Climate Act is just that, a simple tax on fossil 
fuels that will decrease emissions and create immediate incentives for 
green energy. Under this legislation, carbon based fuels--coal, 
petroleum and natural gas--will be taxed at a rate of $10 per ton of 
carbon content. That means coal, which has higher carbon content than 
natural gas, will be taxed at a higher rate. This tax structure 
promotes the use of less carbon intensive fossil fuels and creates an 
incentive to use other non-carbon-based fuels.

  The tax will increase by $10 per ton of carbon every year, making it 
less affordable to burn fossil fuels as time goes on. When the U.S. 
reduces its CO2 emissions by 80 percent, the tax will be 
frozen at that level. The Save Our Climate Act will generate a small 
energy price increase each year, equal to about 2 cents per gallon of 
gas annually. As the tax rate increases, fossil fuel prices will 
increase, producers will have an incentive to invest in cleaner 
alternative energies, and those alternative energy sources will become 
more competitive.
  While economists agree that a carbon tax is the best way to reduce 
CO2 emissions, few agree on what to do with the revenues 
raised from the tax. The Save Our Climate Act does not prescribe how we 
should spend carbon tax revenue, but recognizes the many competing 
interests for this revenue. Low and middle-income consumers who may 
face modestly higher energy prices under this system could receive some 
of the revenue in the form of reduced income taxes or increased tax 
deductions or credits. We could also spend the money on alternative 
energy sources, health care, education, or a myriad other domestic 
environmental and social priorities.
  The Save Our Climate Act is a simple solution to a very difficult 
problem. Some have suggested a system of CO2 emission caps 
and a market to buy and sell emissions credits, often referred to as 
``cap and trade.'' I

[[Page E883]]

worry that industry will thwart any attempt to set a real emissions 
cap. I also worry about the bureaucratic costs of effectively enforcing 
such a system. In contrast, a carbon tax is easy to administer and 
reduces CO2 emissions by raising the price of fossil fuels, 
thereby reducing demand for those fuels. It's Economics 101, but unlike 
most school lectures, this econ lesson could save our planet.
  Global climate change is too important for us to continue our 
inaction because of industry stakeholders or the worry over political 
consequences of raising taxes. A carbon tax is the best way to address 
the problem of global warming. I urge all my colleagues to do what's 
right for our country and the world by supporting the Save Our Climate 
Act.

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