From the WSJ Energy Roundup (Hubbard argues for a carbon tax):
At yesterday’s Deals & Deal Makers Conference in New York, Glenn Hubbard, the Columbia Business School Dean and former Bush administration economic adviser, argued in favor of a carbon tax. “I believe that technology is the vital solution to fixing the problems of climtae change,” he told the Journal’s David Wessel in the video embedded at left.
“But businesspeople don’t innovate because it feels good; they innovate because there’s a return to that innovation. If you want a return to that innovation, you will have to price it – you will need to put a price on carbon, which means having, either through a cap-and-trade system or an explicit tax, some incentive to innovate carbon-saving technology.”
In the video, Hubbard also says he thinks it’s “quite likely” that a cap-and-trade scheme and/or a carbon tax will be implemented soon.
