Taking a Synergistic Approach to Coal Utilization
Mitigation Technology is a term coined by Dr. William Nordhaus, Sterling Professor of Economics at Yale University, who recently won the Nobel Prize for his work in climate change economics.
When considering the environmental impact of an energy system, it should be done in light of the cost of doing business. A “tax” should be levied on pollution emissions rather than enacting a law to regulate pollutants. This will lead to the development of a free market solution to the reduction of pollutants by minimizing the cost of doing business, including minimizing the tax.
Case in point: The more profitable and efficient an energy system is, the less the cost of doing business using that system. Providing an economic engine to reduce pollutants will provide funds for the development of mitigation technologies.