The White House takes a hard line against global warming; the US plans to force businesses to pay a "carbon emissions fee."
Although the US midterm elections gave the Republicans a majority in Congress, a majority of whom hold climate-denying views, the Democrats have not given up fighting climate change. Rhode Island Democratic Senator Sheldon Whitehouse introduced the American Opportunity Carbon Fee Act on the 19th, requiring emitters to pay a fee based on each tonne of emissions, starting at $42 per tonne in 2015, with an annual adjustment of 2% based on inflation. The bill would "compensate polluters for all man-made environmental costs," the White House stated. "Currently, we subsidize large-scale polluters with hundreds of billions of dollars annually, allowing them to pollute the environment without paying any price." The White House believes this mechanism could generate $2 trillion in benefits over 10 years and "give back to the American people." "The costs—health impacts, property damage from rising sea levels, reduced fish catches from ocean warming—will all be borne by the people." If this bill becomes law, all carbon pollution costs will go into the American Opportunity Fund. This bill applies to all coal, oil, and natural gas producers within the United States or importers from abroad, and requires carbon emissions assessments for any non-carbon greenhouse gas emissions or carbon dioxide emissions originating from sources other than fossil fuel industries. Hawaii Democratic Senator Brian Schatz, a co-sponsor of the bill, said, "This bill gives us control over our..."