photo: The Consumerist via flickr.
Alternatives to the ascendant cap and trade method of setting a price on carbon and hopefully reducing greenhouse gas emission are slowly building. Example: The Wall Street Journal reports that a California state panel reviewing the best way to allocate funds from a carbon control plan set to begin in 2012 are considering giving it straight back to the people--a cap and dividend program:Whether it would be given back in the form of an annual check, in tax breaks, or some combination of the two could not be agreed upon by the Economic and Allocation Advisory Committee, but the returned state revenue could amount to $1000 per year for a family of four.
Three Quarters of Program Revenue Returned to Residents
Of the revenue collected under the program ($2-22 billion annually from 2012-2020) 75% of it would be returned to state residents. The balance would be used to help industry cut emissions and transition to lower carbon technologies.
California initially envisioned the program being an interim program was instituted, but a member of the panel was quote by WSJ as saying they hoped California's approach would "raise the level of debate for a national program."
Cap and Dividend
Is Cap and Dividend a Plan We Could All Get Behind?
Bill McKibben on Why Cap-and-Dividend is the Best Approach to Setting a Price on Carbon
Climate Expert James Hansen Supports Cap-and-Dividend System