The Doomsday Clock is an internationally recognized design that conveys how close we are to destroying our civilization with dangerous technologies of our own making. First and foremost among these are nuclear weapons, but the dangers include climate-changing technologies, emerging... Read More
Richards is an associate professor at Indiana University's School of Public and Environmental Affairs, where he teaches economics and law courses. He also teaches in the areas of energy and climate change law and policy at the Indiana University Law School.He serves as associate director of the Richard G. Lugar Center for Renewable Energy in Indianapolis, Indiana, and the Center for Research on Energy and the Environment in Bloomington, Indiana. His recent work includes research on both terrestrial and geological carbon sequestration policy and analyses of recent proposed climate legislation in the U.S. Senate.
As we wrap up the second round of our discussion, it might be useful to provide a way of framing our dialogue. Each of us has offered observations about the relative advantages and disadvantages of taxes versus cap-and-trade.
David Weisbach is absolutely correct: The specific design of either a tax or cap-and-trade program is far more important than the issue of which approach Congress adopts. Either approach, properly developed, can help reduce greenhouse gas emissions.