Long-Term Costs of Cutting Emissions Grow Hazy
View on The Wall Street Journal website"Economists consider a carbon tax the most efficient approach to limiting carbon emissions. Modeling conducted by Resources for the Future, a nonpartisan think tank, shows such a tax could achieve Mr. Obama’s near-term target with only a small impact on the U.S. economy."
"Getting to Mr. Obama’s 80% reduction goal by 2050 is much harder. Economists are divided on whether estimates that far out are meaningful because so many factors, such as advances in technology, are unknowable. 'We normally stop at 2030 or 2035 because it really gets so speculative,' said Resources for the Future economist Ray Kopp."
