BANGOR DAILY NEWS • October 20, 2020
Bill Trotter’s Oct. 5 article, “A coastal Maine town could spend millions,” describes a hidden cost of using fossil fuels. Costs that society pays to adapt to the effects of climate pollution, such as the $4 million project in Damariscotta, are labeled “external costs” by economists. These indicate the failure of a market to account for the actual cost of producing and using a product in that product’s price. There is a simple and comprehensive solution based on sound economic principles called Carbon Fee and Dividend. The one-page U.S. economists’ statement on carbon dividends referenced at carboncashback.org/carbon-cash-back explains it well. ~ Jennifer Nogueria, Bristol