Fee and Dividend instead of Cap and Trade to solve Global Climate Change

It has come to my attention that a group (citizensclimatelobby.org), and many individuals (such as James Hansen) support a "market-based mechanism" called Carbon Fee and Dividend, instead of proposed Carbon Taxes.

This looks like we will all get a dividend.

Carbon Fee and Dividend does not increase the size of government, require new bureaucracies or directly increase government revenues. The dividend increases real disposable income, protects personal spending decisions and will recruit widespread, sustained engagement.

Finally, Carbon Fee and Dividend is elegant in its simplicity, transparent in its accessibility to public scrutiny and clear in its signals and benefits.

They do say that legislation is needed per the FAQ:

Legislation is needed to put us on the path of a sustainable climate by reducing our greenhouse gas emissions and transitioning us to a sustainable energy economy.

A previous "market-based approach to controlling pollution" known as Cap and Trade is not supported by this group.

This program is already in use in these areas:

'There are active trading programs in several air pollutants. For greenhouse gases, which cause climate change, permit units are often called carbon credits. The largest greenhouse gases trading program is the European Union Emission Trading Scheme, which trades primarily in European Union Allowances (EUAs); the Californian scheme trades in California Carbon Allowances, the New Zealand scheme in New Zealand Units and the Australian scheme in Australian Units. The United States has a national market to reduce acid rain and several regional markets in nitrogen oxides.'

I understand this has been working quite well for everyone involved.

Both of these methods are said to be superior to "command and control environmental regulations". I don't think any of us want those.

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