There's a certain synchronicity that the two top stories in my newspaper today are about global warming and ExxonMobil's record profits. Methinks it's time that those who benefit financially from the human activities that cause global warming should pay a higher price and develop new technologies for fuel efficiency and reducing emissions.
The report (PDF) from the Intergovernmental Panel on Climate Change pulled no punches in saying that the "Warming of the climate system is unequivocal," and blamed humans for the change. "The global increases in carbon dioxide concentration are due primarily to fossil fuel use and land-use change," according to the report.
Vehicle emissions from burning petroleum contribute 37.7 of the carbon dioxide in Oregon, according to the Oregonian. The guilty parties include those who get behind the wheel, the oil companies, and the auto manufacturers, and each needs to pay a price to address the problem.
ExxonMobil posted nearly $40 billion in profits in 2006, breaking their previous record from 2005. Some of the company's profits should be funneled to address climate change, and they should not be able to simply pass on any extra cost to consumers. Substantially raising the gas tax and requiring auto makers to increase the fuel efficiency and reduce the emissions of their vehicles is absolutely necessary to slow the heating of the planet.
I believe in the free market, and raising the gas tax associates the benefits of driving with the cost we are all paying. People sometimes don't make the best long-term decisions for themselves, and the government should step in to make the price at the pump and at the dealership more in line with the true cost.
