I am generally an admirer of Paul Krugman’s insightful columns. However, in “Getting real about coal and climate” [April 26, Opinion], he misrepresents a carbon-fee policy with dividends returned to the public (like the recently introduced H.R. 2307).
Krugman states President Joe Biden has not adopted a carbon-fee policy as it relies “almost exclusively on a carbon tax and misses the crucial role of technological development.” Nothing could be further from the truth. A carbon fee is a market-based policy that will complement and enhance other policies, like direct government investment in new technology. Moreover, the rising price of carbon will speed up the adoption and development of new technologies.
Krugman then asserts a carbon-fee policy cannot achieve bipartisan support as some jobs will be lost in industries that heavily emit carbon. The 100% return of net revenues as monthly payments to every American should more than cover any increase in energy costs for most Americans. The rising price of carbon will create jobs in renewable energy. Americans of both parties will benefit from cleaner air.
Krugman’s arguments are weak and misleading.
Kristi Weir, Bellevue