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 â€œa global burden sharing system, fair, with solidarity, and legally binding to all nations.â€
â€œFinally someone will pay for these [climate related] costs,â€ Othmar Schwank, a global tax advocate, told Inhofe EPW Press Blog…
Schwank said at least â€œ$10-$40 billion dollars per yearâ€ could be generated by the tax, and wealthy nations like the U.S. would bear the biggest burden based on the â€œpolluters pay principle.â€
The U.S. and other wealthy nations need to â€œcontribute significantly more to this global fund,â€ Schwank explained. He also added, â€œIt is very essential to tax coal.â€
The UN was presented with a new report from the Swiss Federal Office for the Environment titled â€œGlobal Solidarity in Financing Adaptation.â€ The report stated there was an â€œurgent needâ€ for a global tax in order for â€œdamages [from climate change] to be kept from growing to truly catastrophic levels, especially in vulnerable countries of the developing world.â€
The tens of billions of dollars per year generated by a global tax would â€œflow into a global Multilateral Adaptation Fundâ€ 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 â€œa funding scheme which generates the resources required to address the dimension of challenge with regard to climate change costs.â€ …
The environmental group Friends of the Earth, in attendance in Bali, also advocated the transfer of money from rich to poor nations on Wednesday.
â€œA climate change response must have at its heart a redistribution of wealth and resources,â€ 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.