Here it comes–a carbon tax

Obama May Levy Carbon Tax to Cut the U.S. Deficit, HSBC Says

By Mathew Carr – Bloomberg News

Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.

A carbon tax starting at $20 a ton of carbon dioxide equivalent and rising at about 6 percent a year could raise $154 billion by 2021, Nick Robins, an analyst at the bank in London, said today in an e-mailed research note, citing Congressional Research Service estimates.

“Applied to the Congressional Budget Office’s 2012 baseline, this would halve the fiscal deficit by 2022,” Robins said.

h/t to WUWT reader “dp”

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Gail Combs
November 18, 2012 4:56 am

D Böehm says:
November 18, 2012 at 3:17 am
grimsrud says:
“But you do know about the stomata measurements…”
No, I don’t. As I explained, that is not my specialty….
_______________________________
Actually the stomata data shows the Ice Core data is way too low when measuring CO2 levels in the past.
A simple explanation is here. The corruption is shown here and here.

A role for atmospheric CO2 in preindustrial climate forcing
Thomas B. van Hoof*,†,‡, Friederike Wagner-Cremer†, Wolfram M. Kürschner†, and Henk Visscher†
…Estimates of preindustrial CO2 levels are available not only from Antarctic ice but also from leaves of land plants preserved in peat and lake deposits. Particularly in a wide variety of woody plants, the genetically controlled inverse relationship between numbers of leaf-stomata (gas exchange pores) and ambient CO2 concentration during the growth period (19) permits detection and quantification of past CO2 changes by analyzing time-series data on stomatal frequency. The Fourth Assessment Report recognizes that stomatal frequency may provide reasonable constraints on past CO2 variations on long geological time scales (105 to 108 years), but does not appreciate the applicability of this proxy for identifying decadal to millennial scale CO2 changes during the Holocene Epoch (6). Yet, the integrity of short-term leaf-based CO2 changes has been verified by fine-resolution analysis of the lifetime CO2 responsiveness of individual trees (20) and by numerous other response curves based on well dated herbarium material and subfossil leaves, which consistently mimic the ongoing CO2 increase apparent from Mauna Loa instrumental monitoring (21–24). Reproducibility of leaf-based CO2 reconstructions is further demonstrated by coeval stomatal frequency records of taxonomically, geographically, and ecologically contrasting tree species, which confirm a coupling between CO2 anomalies and early Holocene cooling events (25–28)….
For the last millennium, pronounced preindustrial CO2 variability has been reconstructed on the basis of needles of Tsuga heterophylla (western hemlock) from Mount Rainier, Washington, USA (29), and leaf remains of Quercus robur (English oak) from the southeastern part of the Netherlands (27, 30). The timing of the detected CO2 changes is in good agreement with perturbations observed in Antarctic ice core records. Remarkably, however, reconstructed amplitudes >30 ppmv significantly exceed the maximum shifts of 12 ppmv CO2 found in Antarctic ice. These discrepancies can be explained as an effect of smoothing resulting from diffusion processes in the firn layer at the site of the ice cores. Such processes lead to a reduced signal of the original atmospheric variability and may obscure high-frequency CO2 variations
The presence of high-amplitude CO2 fluctuations as documented by stomatal frequency studies may falsify the IPCC concept that preindustrial temperature variability is constrained by relatively stable atmospheric CO2 levels…

So there you have it. The Plant stomata back up Beck’s study showing CO2 is not stable but variable and what is more the ice core data “Smears” the data wiping out the high data values.

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