James Baker speaks at PrivCap Game Change Conference

Baker

The PrivCap Game Change: Energy 2017 event took place on December 5 – 6, 2017, at the Houstonian Hotel. The focus is primarily for institutional investors. Thus, industry, banks, government, and private equity all come together to discuss strategies for investing in the energy arena.

On December 6th, former Secretary of State, James Baker, is the subject of the morning keynote interview. The Secretary outlines the details of his vision on carbon emissions and global warming. Baker has organized a team of experts with the intent to delineate an economically viable path to controlling the US carbon emissions footprint: Henry Paulson, Martin Feldstein, George Shultz, Ted Halstead, Thomas Stephenson, N. Mankiw, and Rob Walton.

Here is the plan in a nutshell:

  • Gradually increase the tax on carbon dioxide emissions, at the refinery or the first point where the fossil fuels enter the economy.

  • All the proceeds from the carbon tax would be returned to the American people on an equal and monthly basis via dividend checks, direct deposits or contributions to their individual retirement accounts.

  • Exports to countries without comparable carbon pricing systems would receive rebates for carbon taxes paid. Imports from such countries would face fees on the carbon content of their products.

  • Significant regulatory rollback of the EPA’s authority over carbon dioxide emissions – essentially phased out – and outright repeal of the Clean Power Plan.

The plan has several goals:

  • Help working class Americans by increasing their disposable income.

  • Strengthening our economy by encouraging technological innovations; and thus, stimulating new investment.

  • Shrinking the size of government with less regulation and returning the taxes to the people.

  • Stabilizing an unstable world by reducing the reliance on fossil fuels and promoting energy independence.

  • Consolidating conservative leadership by helping the GOP work together and reachout to young, Asian, and Hispanic voters to whom climate change is a very real concern.

It was a great meeting. Come join us next December 2018. Same place, same time.

http://www.energygamechange.com

http://www.bakerbotts.com

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