Marc Morano reports on Senator James Inhofe’s blog from the UN conference in Bali.
How do you save the Earth from catastrophic climate change? Create a new International tax to be used to redistribute monies from countries like to US to the Third World.
A global tax on carbon dioxide emissions was urged to help save the Earth from catastrophic man-made global warming at the United Nations climate conference. A panel of UN participants on Thursday urged the adoption of a tax that would represent “a global burden sharing system, fair, with solidarity, and legally binding to all nations.”
“Finally someone will pay for these [climate related] costs,” Othmar Schwank, a global tax advocate, told Inhofe EPW Press Blog…
Schwank said at least “$10-$40 billion dollars per year” could be generated by the tax, and wealthy nations like the U.S. would bear the biggest burden based on the “polluters pay principle.”
The U.S. and other wealthy nations need to “contribute significantly more to this global fund,” Schwank explained. He also added, “It is very essential to tax coal.”
The UN was presented with a new report from the Swiss Federal Office for the Environment titled “Global Solidarity in Financing Adaptation.” The report stated there was an “urgent need” for a global tax in order for “damages [from climate change] to be kept from growing to truly catastrophic levels, especially in vulnerable countries of the developing world.”
The tens of billions of dollars per year generated by a global tax would “flow into a global Multilateral Adaptation Fund” to help nations cope with global warming, according to the report.
Schwank said a global carbon dioxide tax is an idea long overdue that is urgently needed to establish “a funding scheme which generates the resources required to address the dimension of challenge with regard to climate change costs.” ...
The environmental group Friends of the Earth, in attendance in Bali, also advocated the transfer of money from rich to poor nations on Wednesday.
“A climate change response must have at its heart a redistribution of wealth and resources,” said Emma Brindal, a climate justice campaigner coordinator for Friends of the Earth. ...
MIT climate scientist Dr. Richard Lindzen warned about these types of carbon regulations earlier this year. “Controlling carbon is a bureaucrat’s dream. If you control carbon, you control life,” Lindzen said in March 2007.