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Carbon tax may be the answer for looming budget crisis

Published On: Nov 14 2012 05:41:15 AM EST   Updated On: Nov 14 2012 04:08:21 PM EST

The issue of climate change is suddenly a hot topic again.

The reason? The government needs money.

The rare northeastern Superstorm Sandy and a Democratic victory in the presidential election put global warming back into the picture.

Now a carbon tax is being discussed as one possible revenue answers in this looming budget crisis. People would pay a tax whenever they use fossil fuels, such as coal, natural gas or oil.

These are fuels that produce heat-trapping carbon dioxide.

The Conservative American Enterprise Institute held an all-day discussion about the carbon tax Tuesday.

Meanwhile, former Republican Congressman Bob Inglis said such a thing may be inevitable.

Wednesday, former vice president Al Gore launched a 24-hour online talkfest about global warming and natural disasters.