Emissions Charges and Necessity as Mother of Invention

In a New York Times op-ed article published today, Connecticut’s Commissioner of Environmental Protection, Dan Esty, and world renown economic competitiveness authority Michael Porter, explain how greenhouse gas emissions charges would unleash entrepreneurial spirit and innovation across a broad range of enterprises - from multinational businesses to back-of-the-garage inventors.

The authors make a case that innovation in energy productivity and renewable energy would help stimulate global growth and free up resources to meet other pressing needs.

The authors write that the best way to drive energy innovation would be a modest emissions charge of $5 per ton of greenhouse gases beginning in 2012, rising to $100 per ton by 2032. The low initial charge, starting next year, would make the short-term burden on consumers and businesses almost negligible.

If necessity is the mother of invention, then emissions charges may be just the kick in the pants that modern society needs to change our fossil fuel ways.