HIAWASSEE, Ga. – Local activist Dr. Vernon Dixon of the Citizens’ Climate Lobby is continuing his battle against climate change by warning citizens and Congress of the financial implications associated with his chosen cause.
“Bank of England Governor Mark Carney has just said that businesses that fail to adapt to climate change will go bust, but others will be able to profit handsomely from funding green investment,” Dixon shared. “This is just one of many warnings coming from our country and around the world about the severe financial dangers from climate change.
“I urge (Congress) to listen to our financial experts and take action on climate change while there is still time. Please consider passing legislation like the Energy Innovation and Carbon Dividend Bill, HR 763, as the single best way to do this. If enacted, this bill would decreasee greenhouse gases by 90% by 2050 using a free market approach that grows our economy and adds millions of new American jobs at the same time. It would enable the US to again lead the world in the green energy revolution.”
The Energy Innovation and Carbon Dividend Bill bill imposes a fee on the carbon content of fuels, including crude oil, natural gas, coal, or any other product derived from those fuels that will be used so as to emit greenhouse gases into the atmosphere. The fee is imposed on the producers or importers of the fuels and is equal to the greenhouse gas content of the fuel multiplied by the carbon fee rate. The rate begins at $15 in 2019, increases by $10 each year, and is subject to further adjustments based on the progress in meeting specified emissions reduction targets. The bill also imposes a specified fee on fluorinated greenhouse gases.
The bill includes:
- exemptions for fuels used for agricultural or nonemitting purposes,
- exemptions for fuels used by the Armed Forces,
- rebates for facilities that capture and sequester carbon dioxide, and
- border adjustment provisions that require certain fees or refunds for carbon-intensive products that are exported or imported.
The fees must be deposited into a Carbon Dividend Trust Fund and used for administrative expenses and dividend payments to U.S. citizens or lawful residents. The fees must be decommissioned when emissions levels and monthly dividend payments fall below specified levels. The bill also suspends certain regulations that limit greenhouse gas emissions. The suspensions expire if the emissions targets established by this bill are not reached after a specified time period.
While everyone may not agree with Dixon’s position on climate change, his passion for the cause is difficult to dispute. Dixon urged concerned citizens to contact Congress leaders in an effort to support HR 763.
Feature Photo: Dr. Vernon Dixon/Facebook