Barack Obama

New working paper makes case for "modest" carbon taxes

Data: Knittel, 2019; Chart: Harry Stevens/Axios

Even "modest" carbon taxes, like those seen in the chart above, would cut emissions as much as the Obama-era vehicle and power plant rules that President Trump is abandoning, an MIT economist found in a new working paper.

Why it matters: The results "underscore the economic power of a carbon tax" compared to "economically inefficient" regulations, writes Christopher Knittel, who directs the MIT Center for Energy and Environmental Policy Research.

What he's reading: Barack Obama shares his summer books list

Former President Barack Obama speaks to students at the University of Illinois
Former President Barack Obama speaks to students at the University of Illinois in September. Photo: Scott Olson/Getty Images)

Former President Barack Obama issued a list of recommended books he's been reading this summer, highlighting new releases and older works from authors including Nobel laureate Toni Morrison, who died last week at age 88.

The big picture: Obama is known to share his favorite reads via social media. "You’ll be glad you read them," he promised of his recommendations for the works of Morrison, to whom he presented the Presidential Medal of Freedom in 2012.