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Rising carbon emissions in NJ are dangerous for many reasons.
Successful Implementation in NJ is feasible.
It will be revenue neutral.
Vulnerable households and businesses will be fairly compensated in dividend returns for any increase in energy prices. Even a simple dividend returned evenly to every household would generate $5/person/year for every $1/ton in fee.
Climate change is real and pressing.
Humans have increased atmospheric CO2 concentration by more than a third since the Industrial Revolution began and in 2015, CO2 accounted for about 82.2% of all U.S. greenhouse gas emissions from human activities.
It could be great for the economy.
Incentivizing the turn to renewable, cleaner energy will grow our economy, while increasing demand for work
in the clean-tech and green-job sectors.
It has been extremely successful in other countries.
Over 50 countries have carbon pricing schemes.
British Columbia's fee saw GHG emissions decrease significantly more than the rest of Canada, and petroleum fuel use dropped 15.1%.
Many EU countries have also seen continued drops in emissions.
It probably won't pass.
It probably won't even decrease emissions.
It will be bad for the NJ economy! And also lose jobs.
Individual households will receive a rebate (either 80% and a reformed property tax or 100%) meaning the fee directly benefits the consumer and stimulates the economy by allowing for increased consumption and a growth of the renewable energy industry
Carbon reduction schemes in NJ will be negligible when considering global carbon production.
But what about RGGI, and NJ rejoining?
(RGGI is a nine-state (previously ten) cap-and-trade program for CO2 emissions from electricity generation.)
But what about interfering with Interstate Commerce?
Tax utilities firms?
What about taxing motor fuels?
Other states have been proposing carbon fees as well.
Connecticut, DC, Massachusetts, and Rhode Island all have bills.
The San Francisco Bay Area already has a fee that goes to green projects, and Boulder, CO as well which supports emissions reduction programs.
What about Carbon Capture and Storage?