Natural Resources committee  I think you should be thinking economy-wide and thinking about how we get the most reductions at the lowest cost. That's one of the key reasons we think the best approach to this cap is actually to think about how to strengthen the industrial pricing system as a whole, which woul

Natural Resources committee  I think carbon leakage could certainly be addressed in a significant way through a policy like border carbon adjustments. It's not going to be easy since this is a very complex task ahead of us, but we need to protect the competitiveness of our industries. It makes no sense to pe

Natural Resources committee  Border carbon adjustments, or some equivalent policy at our border, are absolutely critical if we're going to proceed with more ambitious climate policy. What we don't want to do is apply high charges to domestic industry in a way that just moves them overseas and does nothing fo

Natural Resources committee  There are other approaches. There's pushing for a minimum global carbon price. There are climate clubs, in which tariffs are applied more broadly to countries that are not part of the club. But the use of border carbon adjustments is certainly a leading option.

Natural Resources committee  That's great. Thank you very much, Chair, and thanks to the committee for having me here today. I want to use my time to explain why I think leveraging the existing carbon pricing system for heavy industry is the best approach to pursuing the goals of the emissions cap. I know