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November 07, 2012

Oh This'll Just Be Splendid: Obama May Levy Carbon Tax To Reduce Debt, Says Bank Holding Company HSBC

Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.
A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates. “Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Robins said.

Electricity prices will necessarily skyrocket.

posted by Ace at 04:37 PM

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A tax starting at $20 a metric ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates. “Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Robins said. Electricity prices will necessarily skyrocket. posted by Ace at 04:37 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments Axeman: " Has Dying Joe managed to beat the crap out of Tap ..." Ann: "New post up ..." wth: "Where did all of the water in Waterworld come from ..." Ann: "Wut? They have a first amendment right. They d ..." Northernlurker , Maple Syrup MAGA : "Has Dying Joe managed to beat the crap out of Tapp ..." Who?: "Jake Tapper. Is he that squirrely pasty faced homo ..." 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