The Supreme Court has again upheld the Environmental Protection Agency’s authority to regulate greenhouse gas emissions (TNT, 6-24). These regulations will help curb the amount of carbon dioxide in the atmosphere, but they are not enough.
We need to send a price signal that is felt around the world to combat global warming. A tax on carbon, most recently proposed by Hank Paulsen, Republican treasury secretary under President George W. Bush, would be a conservative solution.
Instead of using subsidies or regulations, market forces would work as a simple machine to move us away from fossil fuels. The higher …