Little margin for error with carbon tax

If Initiative 1631 is approved by voters next week as part of an effort to reduce Washington’s already low carbon emissions, there would be little margin for error if the state is to meet its target goals for 2035. That is the conclusion of a study released Oct. 17 conducted by the Low Carbon Prosperity Institute, a project of the Washington Business Alliance and its PLAN Washington agenda.

While other analyses have examined the economic impacts of a carbon tax, the latest study presents what its authors argue is the most pragmatic approach to investing the estimated billions the carbon tax is expected to generate, much of which differs in many ways from the initiative. The report also anticipates challenges certain to face the oversight board handling those monies and how that could prevent the state from reaching its emission reduction goals.

“While proponents can point to promising evidence that technology trends and shrewd investment strategies will break in its favor, the initiative leaves little to no room to depart from proposed revenue allocations,” the report concluded. …

Washington Policy Center Environmental Director Todd Myers told Lens that “they (oversight board) have an incentive to fail. The more they fail, the more money they get. …” …

Assuming that I-1631 achieved its emission reduction goals by 2050, it would still amount to  0.0003 of a degree temperature change, according to an Environmental Protection Agency climate model.

Zycher writes: “Those temperature effects obviously would be unmeasurable, a reality that explains fully why the proponents studiously have avoided any discussion of the actual climate impacts of I-1631.”

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