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‘Climate Bubble’ Poses Enormous Risks, Paulson Warns

In this June 21 op ed in the New York Times, ex-U.S. Treasury Secretary and Goldman Sachs CEO Henry Paulson urges his Republican colleagues to endorse a carbon tax as a mechanism for reducing greenhouse gas emissions and getting climate change under control. “When the credit bubble burst in 2008, the damage was devastating,” he writes. Now, “we’re staring down a climate bubble that poses enormous risks to both our environment and economy. The warning signs are clear and growing more urgent as the risks go unchecked.” Paulson describes a tax on carbon dioxide emissions as a “fundamentally conservative” solution that will “empower the marketplace to find the most efficient response.”(h/t Heather Smith at grist.org for pointing us to this story)