Bloomberg: backed carbon tax and congestion pricing

[A carbon tax is] like making one right turn instead of three left turns. You end up going in the same direction, but without going around in a circle first — Michael Bloomberg

I’m sorry to see Bloomberg withdraw — he was the only candidate to get serious about carbon pricing:

In a highly publicized speech to the U.S. Conference of Mayors last November, Bloomberg proclaimed his strong preference for a carbon tax over a carbon cap-and-trade scheme:

[T]he certainty of a pollution fee — coupled with a tax cut for all Americans — is a much better deal. It would be better for the economy, better for taxpayers and — given the experiences so far in Europe — it would be better for the environment… [W]hy not simplify matters … by charging a direct pollution fee? … a direct fee will generate more long-term savings for consumers, and greater carbon reductions for the environment.

Bloomberg made similar remarks favoring carbon taxes over cap-and-trade at the UN Framework Conference on Climate Change in Bali in December.

Mayor Bloomberg is also on the side of the angels by backing congesting pricing:

For carbon tax advocates, the potential silver lining is that Bloomberg might now refocus on gaining city and state legislative approval for his plan to cut traffic and fund transit through a congestion fee to drive into Manhattan.