Obama’s Energy nominee: We need carbon tax to double or triple energy cost

President Obama’s Energy secretary nominee regards a carbon  tax as one of the simplest ways to move the energy industry towards clean technologies, though he notes that government would have to come up with a plan to mitigate the burden this tax places on poor people, who would pay the most.

“Ultimately, it has to be cheaper to capture and store it than to release it and pay a price,” MIT professor and Energy nominee Ernest Moniz told the Switch Energy Project in an interview last year. “If we start really squeezing down on carbon dioxide over the next few decades, well, that could double; it could eventually triple. I think inevitably if we squeeze down on carbon, we squeeze up on the cost, it brings along with it a push toward efficiency; it brings along with it a push towards clean technologies in a conventional pollution sense; it brings along with it a push towards security. Because after all, the security issues revolve around carbon bearing fuels.”

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