On the recordJuly 24, 2013
Rhode Island is preparing for climate change. We are doing it in commonsense ways. Along our coasts, we are identifying areas that are vulnerable to sea level rise. The University of Rhode Island Graduate School of Oceanography is a world leader in measuring and understanding the effects of climate change on our waters. Rhode Island's Department of Health, with a grant from the Centers for Disease Control and Prevention, is preparing us for the health effects associated with climate change. But it is not enough for individual States to have to act alone. That is why Senator Schatz and I, along with our colleagues in the House, Representatives Waxman and Blumenauer, have put forward a discussion draft for a fee on carbon pollution. It is clear when we consider the damage climate change will cause, indeed already has begun to cause, there is a social cost of carbon pollution. It is not factored into the price of fossil fuel. That is a market failure, and our approach would correct that market failure. We wish to discuss with our Democratic and Republican colleagues how best to implement this solution, what the price should be, how fast it should rise, and how to return the proceeds back to Americans. A market solution like this should be right up Republicans' alley. This is why Republicans such as Art Laffer and George Shultz are talking about it. A fee on carbon can reduce emissions.…





