The Best Solution to Global Warming Randy Gyory & Tom Pritchett

What have you heard about the impacts of global warming?

What is Global Warming The warming of the whole Earth Includes much more than air temperatures Earth receiving more energy than it releases

Earth’s Global Energy Budget; Kevin E. Trenberth, John T. Fasullo, and Jeffrey Kiehl; Bull Amer. Met Soc., 2009, 90(3), 311

Where Does This Excess Energy Go > 90% Warming of Oceans Air Temperatures Melting Polar Ice Sheets Melting Glaciers Melting Permafrost

Ocean heat content change above 2,000 m depth “Deep-ocean contribution to sea level and energy budget not detectable over the past decade”, W. Llovel, J. K. Willis, F. W. Landerer & I. Fukumori ; Nature Climate Change 4, 1031–1035 (2014)

Has the Earth’s Climate Varied in the Past - Yes Variations in the Amount of Radiation Received by the Earth Variations in the Amount of Radiation Actually Absorbed by the Earth (versus reflected directly back into space) Variations in the Manner by Which the Energy of the Sun is Transported from One Part of the Globe to Another

Climate Change’s Ugly Sister – Ocean Acidification

CO 2 and Carbonate Chemistry

Ocean pH change The Future Oceans – Warming Up, Rising High, Turning Sour, German Advisory Council on Global Change, March 2006

Some Observed Impacts More Extreme Weather More Extreme Droughts Longer Fire Seasons Rising Sea Levels Oyster Farming in Pacific NW Changes in Pest Populations Poleward Shifts in Animal Populations Coral Die-Offs Shifting of Specie Distributions at the Bottom of Ocean Food Chain

Billion Dollar Disaster Event by Type acecssed 09/25/15

Ice sheets that are no longer grounded Ice sheets that are melting and, if not already ungrounded, will become so in near future

Potential Increase in Sea Levels

What We Need to Avoid Acceleration of Rates of Temperature and Sea Level Rise Limit the Ultimate Level of Sea Level Rises Limit the Ultimate Extremes Our Climate Will Reach Avoid Climate Feedback Mechanisms that Throw Out Our Ability to Predict Impacts Complete Collapses of Major Oceanic Ecosystems Other such Impacts

What is the government doing?

“So if there is one thing I would like to see, it’d be for us to be able to price the cost of carbon emissions”

Clean Power Plan vs Carbon Fee & Dividend EPA regulations would impose these costs while only achieving a fraction of the emissions reductions that CF&D would achieve The EPA rules are designed to reduce emissions from power plants by 30% below 2005 levels by the year 2030 CF&D would achieve a 90% reduction below 2005 levels in the power sector by 2030

Carbon Fee & Dividend Proposal What Will Carbon Fee and Dividend Do? 1.Add the social cost of carbon-based fossil fuels to the price consumers pay % reduction in 1990 emissions by Grow jobs and GDP without growing government one bit. 4. Recruit global participation.

In a fully efficient price system, the price we pay for a product would reflect the full costs of producing and using it, including the costs to the environment.

Fee ● Initial fee of $15/ton on the CO2 content of fossil fuels ● Steadily escalating $10/ton/year until total US CO2 emissions have been reduced to 10% of carbon emissions in ● Imposed upstream at the point of extraction/production/border and collected upon entry into the economy. ● Upstream is administratively easier and cheaper than downstream.

Dividend 100% of the revenue from the carbon fee is held in a Carbon Fee Trust Fund. Returned directly to households as a monthly dividend. Up to two adults (each a full share) and two children (each a 1/2 share). “Share” is the same for everybody. 2/3 of households will not see net increase in costs (includes direct fuel costs and pass-through costs). Some will have a net gain.

Border Adjustment ● To ensure that US goods remain competitive at home and abroad, and prevent “leakage” of US companies to jurisdictions without carbon fees. ● “Carbon fee equivalent” tariffs charged for goods entering US. ● “Carbon fee equivalent” rebates given to US exporters to reduce price of US goods when going to countries without a comparable carbon fee.

Carbon Fee and Dividend Economists & Conservatives Agree “It’s not a tax if the government doesn’t keep the money” Gregory Mankiw, Harvard Professor & economic advisor to George W. Bush George Shultz, Secretary of State to Reagan “... tax those things we would like to have less of”

How Will CFD Impact the Economy? Millions of new jobs Jobs Regional Economic Modeling Inc Nationwide study by Regional Economic Models, Inc (REMI)

REMI: Rapid US Emission Reductions

REMI: Household Refunds Increase $400 per month per household Regional Economic Modeling Inc

REMI: 225,000 Lives Saved Due to avoided air pollution Regional Economic Modeling Inc

●Reduces carbon dioxide ●Increases household incomes ●Saves Lives ●2 million more jobs Employment Climate Fiscal Humanitarian REMI: Report Summary No economic case against Carbon Fee ●$1.3 trillion more GDP Economic

We Know the Solution

Carbon Fee & Dividend Proposal ● Carbon Fee and Dividend is the policy proposal created by Citizens’ Climate Lobby (CCL) to account for the costs of burning carbon-based fuels. It’s the policy that climate scientists and economists alike say is the best first-step to reduce the likelihood of catastrophic climate change from global warming. ● Our carbon fee and dividend proposal [1] works like this:carbon fee and dividend proposal ● A fee is placed on fossil fuels at the source (well, mine, port of entry). This fee starts at $15 per ton of CO2 emitted, and increases steadily each year by $10. ● All of the money collected is returned to American households on an equal basis. Under this plan about 2/3 of all households would break even or receive more in their dividend checks than they would pay in higher prices due to the fee, thereby protecting the poor and middle class [2]. ● A border tariff adjustment on goods imported from or exported to countries without an equivalent price on carbon. This adjustment would both discourage businesses from relocating to where they can emit more CO 2 and encourage other nations to adopt an equivalent price on carbon. ● A predictably increasing carbon price will send a clear market signal which will unleash entrepreneurs and investors in the new clean-energy economy.

Citizens’ Climate Lobby (CCL) ● Founded in 2007 ● 17,000 members ● 267 chapters Chapters in formation Singular Mission Lobby Congress to pass Carbon Fee and Dividend VIDEO

CCL: Methodology ● Focus on solutions ● Instill hope ● Educate constituents ● Develop strong respectful relationships with elected officials VIDEO

For more information on the Citizens Climate Lobby: Thank You For Attending This Evening