Al Gore brought 500,000 messages with him as he testified before Congress yesterday on the threat of climate change, urging legislators to take action. Unfortunately this has become a political issue and it doesn’t help matters that Gore is identified with the Democrats. It is unbelievable that there are people out there like Republican Senator James Inhofe leading a defensive charge.

“It is my perspective that your global warming alarmist pronouncements are now and have always been filled with inaccuracies and misleading statements,” Mr. Inhofe said.

And this is the guy that is the ranking Republican on the Environment and Public Works Committee?!

When will this stop being a political issue and start being a real threat that we can all discuss without taking sides. We have a very narrow window of opportunity to change the course of destruction of our world and parties are bickering over taxes and protectionism.

A twitter friend, baratunde just sent this to me. If you care about saving the planet from irreversible damage, make yourself heard TODAY. Al Gore is testifying to Congress on global warming tomorrow, Wednesday, March 21st. He will hand deliver your message of support for immediate legislation. Click on Hurricane Katrina now and take 2 minutes to fill out the card. Here is my personal message:

The best solutions to reversing global warming are also the simplest: 1) Increase the federal gasoline tax 10 cents per year incrementally over the next 10 years as Dr. N. Gregory Mankiw suggests. You can keep your tax revenue even if you reduce paryoll taxes by the same amount 2) Ban incandescent light bulbs. 3) Invest in public transportation instead of building new roads.

You have to do it today since Mr Gore is testifying to Congress tomorrow.

NASA photo of Hurricane Katrina sea surface temperatures

Why are you still reading? Fill out the card now!

I am very busy this week preparing for a presentation for my research thesis. My topic is regarding the proposal of increasing gasoline (petrol) taxes in the US in order to reduce petroleum consumption, thereby reducing carbon dioxide emissions and slowing the inevitable global warming trend. I am looking at federal and state gasoline taxes as compared to other OECD countries. US gasoline taxes are significantly lower and do very little to encourage conservation of oil. One of my favorite economists, Dr Greg Mankiw, is a champion of Pigovian taxes which are taxes that correct negative externalities. In other words, a graduated increase of the federal gasoline tax will correct the market in order to reduce oil consumption, reduce carbon dioxide emissions, and encourage innovative technologies and cleaner alternative fuel sources.

Dr Mankiw’s manifesto has inspired me to research this further. My research will examine the optimal tax at which consumption will be reduced and will study the proposal of offsetting payroll or income taxes so that there will be zero gain or loss in tax revenue overall.

If your head isn’t spinning and I still have your attention. You will see that I am extremely busy and likely will not post again until the dust has settled from my presentation on Thursday evening. I might have to have a few pints and some good craic. See you soon!

Image credit: Wikipedia

I always figured bottled water was very un-economical and this informal analysis by Pablo Päster sheds some light on the matter. It is seemingly true that more water is actually used in the production of a bottle of water than is actually delivered in the bottle itself. Not to mention the amount of fossil fuels burned in the process. These figures are incredible.

Starting today I have promised to be much more conscious of the water I consume. If anything, I think I’ll try to stick to my Brita filter and get a reusable sports bottle. I guess it’s never to late to start a New Year’s resolution.

Carbon taxes anyone? What are your thoughts? Write them below…