Budget & Tax News
The Heartland Institute's national monthly outreach publication for advocates of lower taxes, balanced budgets, and limited government.
Excerpts: "A Guide to No. Carolina's Proposed Global Warming Policies"
Written By: BTN Staff
Published In: Budget & Tax News > June 2008
Publication date:
06/01/2008
Publisher: The Heartland Institute
- Regarding "cap-and-trade" programs: "In a CO2 cap-and-trade program, the government would cap the amount of total carbon dioxide emissions--it is an energy-rationing scheme that acts as an energy tax. Regulated parties would have to own a permit to emit each ton of CO2. If a regulated entity does not have enough permits, it can buy permits from other regulated entities."
- Regarding two requirements for utility companies to meet an "environmental portfolio standard": "The first requirement is a renewable portfolio standard that requires utilities to provide a certain percentage of their electricity through renewable sources. A renewable energy credit allows utilities to purchase electricity from renewable energy providers, even from out-of-state providers that generate electricity for out-of-state residents only. The second requirement mandates that utilities achieve energy efficiency savings--basically a reduction in expected energy use at some future date."
- Regarding rebates and "feebates" designed to change the mix of vehicles on North Carolina's roads: "This is another tax on vehicles. The tax would increase based on CO2 emissions, fuel consumption, 'and/or other measures of a vehicle's environmental impacts.' The purpose of this recommendation ... is to change the types of cars that are purchased and sold."
- Regarding the complex term "Multi-Modal Transportation and Promotion": "More funding would be provided for public transit, including rail. There also would be a focus on what is called 'transit-oriented development,' which is grounded in the belief that communities should be developed to meet the needs of transit as opposed to transit meeting the needs of communities."
- Regarding a new insurance mandate: "The state would require insurance companies to provide pay-as-you-drive (PAYD) insurance. It also would require all drivers eventually to have this type of insurance. PAYD insurance ties the cost of premiums to an individual's amount of driving--the more you drive, the more you pay."
- Regarding a public education campaign: "A public education campaign about greenhouse gas emissions would target policymakers and state agencies, educators and students, community leaders and local organizations, industry, and the general public," according to Bakst's report. "[The Climate Action Plan Advisory Group] recommends that public education 'efforts should commence as rapidly as possible.'"
