I was reading an article by Craig Hanson and James R. Hendricks, Jr. on ValleyWatch.net about the benefits that a carbon tax could bring in the U.S. Such a tax would be levied on the carbon content of fossil fuels. I have always thought that improvements in environmental performance of existing energy producers and a move to more alternative energy, should be done in a way that incorporates and encourages the free market. This seemed to be the theme of the article, which notes that a moderate and gradually increasing tax on carbon emitters like natural gas facilities, coal-fired power plants and oil refineries, could generate a huge amount of revenue in this country and provide incentives to fossil-fuel dependent companies to curb carbon emissions. According to the article, which cites the Congressional Budget Office, a tax of $12.00 per metric ton of carbon which gradually increases to $17.00 per metric ton of carbon, could generate $208 billion in tax revenue over ten years. The writers note that this money could be used to finance other tax reforms. I would hope that a portion of this money would go towards alternative energy initiatives, even if it somehow flows back to the fossil-fuel burners if they would delve more into truly renewable energy projects. I would also hope that some of this revenue would be used to combat global warming by reforesting many acres of land and for research into more effective ways to capture carbon dioxide emissions that are still emanating from power plants and other sources. Although some may think the carbon tax would be difficult to administer, the article notes that it could be levied at the areas of production or delivery--i.e. oil refineries, coal-fired power plants, ports where fuels are delivered or shipped out, etc. All in all, a carbon tax to me seems like a great way to gather funds to counter the effects of carbon dioxide that is still entering the atmosphere, while discouraging more emissions. After all, if oil and natural gas companies and other utilities are forced to pay this type of tax, they may realize that to stay competitive with other energy producers and to appease their shareholders, it may be better to invest in technology to combat carbon dioxide emissions. This may be preferable to simply continuing with the status quo of emissions and paying increasingly higher taxes.