Phil Flynn, an energy commodities trader, suggests that renewable energy technologies are obsolete, and that “if they can’t compete, maybe they shouldn’t” (“Fracking may hold key to energy independence,” On the Hot Seat, Money & Careers, Dec. 30). A carbon tax would correct the price of fossil energy to account for the social and ecological costs, and would enable renewable energy and conservation to flourish, creating millions of jobs.
The reason we don’t pass a carbon tax is that it would hurt the oil and gas companies that exert far too much control over our government.
Fracking is toxic to the environment, and fossil fuels accelerate global warming.
We can let the market lead innovation with a simple carbon tax, an idea favored by economists both left and right.