At our regular Board meeting on 19 January 2015, we voted 6-0 to have DFMC Endorse the “Carbon Fee & Dividend” policy being promoted by Citizens’ Climate Lobby. CF&D works by applying a fee to carbon-emitting fuel sources (either at the point of extraction or port of entry), beginning at $15 per ton of CO2 emissions and increasing by $10 per year. The proceeds of the fee are then distributed equally among all citizens (counting dependent children as 1/2).
This endorsement follows our excellent October Linkup which featured speakers from the South-Central Indiana chapter of CCL.
The text of the endorsement follows:
I/We Endorse Carbon Fee & Dividend
The costs of climate change—including destabilized weather patterns, rising sea levels, extreme weather events, and other serious impacts— now pose a substantial threat to the health, prosperity and security of Americans. The costs are real, they are growing, and they are already burdening businesses, taxpayers, municipal budgets and families. Our economy, infrastructure, public safety and health are directly at risk.
Therefore, I/we urge Congress to support Carbon Fee & Dividend as a key element in reducing the risks of climate change. Carbon Fee & Dividend will significantly reduce carbon emissions, create jobs, grow the economy, save lives and protect households from higher energy prices.
Carbon Fee & Dividend will place a steadily increasing fee on fossil fuels at their source (the well, mine, or port of entry), beginning at $15 per ton of CO2 emitted, and increasing each year by $10. All revenues will be returned in equal shares to American households as a monthly dividend.
Additionally:
● A predictably increasing price on carbon will send a clear market signal that will unleash entrepreneurs and investors in a new clean-energy economy.
● With all of the revenue returned to households on an equal basis, two-thirds of households will break even or receive more in dividends than they would pay in higher living expenses.
● A border adjustment will discourage domestic businesses from relocating where they can emit more CO2 and encourage other nations to adopt an equivalent price on carbon.
