Where does the money come from? Barring regulations that prevent polluters from passing on costs (anyone want to trust in the regulators?), the cost will distributed among consumers of energy-- individuals, businesses, energy-intensive industry.
Where does the money go to? That's the fundamental battle of global warming legislation. Investment banks don't particularly care, because they will be happy to invest in whoever gets a piece of the pie.
Corporate interests recognize that and are fully mobilized. Right now legislation is structured so that the money goes pretty much entirely back into the pockets of the polluting industries, with very strong weighting towards the coal industry, so the poor and the middle class will end up with a double hit.
But that money could instead go into job creation, lifting people out of poverty, strengthening the middle class, rebuilding our energy infrastructure, and empowering a sustainable society.
Climate change legislation will either be the greatest subsidy for polluters ever or the greatest foundation of a vibrant middle class since the New Deal.
So if you wonder how Climate Change legislation is relevant, think one trillion dollars. And think about who is taking action to decide where it's going.
How can you help?
Photos: "absolute power", © 2007 atomicshark, "Golden Weather Forecast", © 2007 cresk
Comments are closed on this story.