Religion News Service columnist Thomas Reese on how we can succeed on climate change, and why it's proving difficult to do so.
The biggest obstacles to alternative energy are no longer technical or economic. They are political. And there’s the rub.
A tax on carbon emissions would make energy from fossil fuels more expensive, which makes alternative sources of energy more attractive. Customers will demand cheaper alternatives and more energy-efficient devices, and investors will be willing to put their money toward responding to these demands knowing there is a market for it.
The Biden administration flips this idea on its head by enacting tax credits for alternative sources of energy. In other words, instead of making fossil fuels more expensive, the administration is making alternative energy cheaper. On top of this is direct government spending to foster alternative sources of energy by installing charging stations and by purchasing electric cars and trucks for government agencies.
Another advantage of tax credits is that, although more energy-efficient equipment is cheaper in the long run, it tends to be more expensive in the short term. A rational consumer should be willing to pay more for a refrigerator, air conditioner or car if in the long run it is cheaper. But most consumers are not rational, or they don’t have the money to afford energy-efficient purchases. Most people look at the sticker price, not the cost over a five-year period.
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