I would like to thank you for reporting on the threat posed by climate change to Louisiana’s coast in the recent article, “Our Views: Our Coast Under Threat.”
Louisiana’s economy is largely fueled by the oil and gas industries and they are seen as a boon. At some point, in the very near future, economic gains will be canceled out by the cost of reconstruction related to extreme weather events.
Companies would be forced to invest in finding sources of renewable energy and using sources already available if the market demanded it. A carbon fee and dividend will provide proper motivation for companies to make such investments. Citizens Climate Lobby proposes that a fee be placed on fossil fuels, based on the CO2 content, at the first point of sale and that revenue from the fee be returned to the public as a monthly or annual payment to protect households from the increased cost of fuel.
This is a market-based solution in direct opposition to the alternative of over-regulation.
Climate change is happening and coastal regions in particular must take the lead in combating this issue.