Momentum is building away from fossil fuel toward renewable energy. For instance, on May 27, the KJ’s business page featured three articles that could give long-suffering climate stoics hope: “Million-dollar battery could help Casco Bay ferry,” “Ford: Electric vehicles to be 40% of global sales by 2030,” and “2 Exxon board members lose seats in climate fight.”
Soon residents of Readfield and Mount Vernon will have the opportunity to help build on this momentum. A “yes” vote on a carbon cashback resolution (June 8 in Readfield, Article 41; June 12 in Mount Vernon, Article 33) will tell state and federal leadership that we want a climate policy that U.S. economists consider the most fair, efficient, and effective way to transition from fossil fuel to clean energy.
Carbon fee and dividend would place a fee on fossil fuel at the source (oil well or coal mine) and put those moneys into a Carbon Dividend Fund from which the American people would get periodic checks to cover the increased cost of carbon-intense products — costs we are already paying in poorer health and property damage.
Dividend checks would equal or exceed these costs for the lower-income two-thirds of Americans. Fees would increase each year, providing incentive for transitioning to clean energy.
As a market-based approach, it is preferred by businesses over mitigation by regulation. There are several carbon pricing bills in Congress but only H.R. 2307, The Energy Innovation and Carbon Dividend Act, would require virtually all the fees distributed to American households through monthly checks.
President Biden has not yet included carbon pricing in his climate agenda, so it is important that he hear from Maine municipalities that we support carbon cashback. For more information go to climatecashback4me.org.
Melanie Lanctot
Readfield
Deb Stahler
Mount Vernon
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