Next100 - A Dialogue on the Next Century of Energy

Sep 26 2008

Climate Changes

This week brought significant news about climate change, both in terms of the accelerating problem and tentative steps to address it in the United States:

The Global Carbon Project, based in Australia, reported this week that global carbon dioxide emissions last year soared nearly 3 percent, a bigger jump than expected by all but the most pessimistic researchers. Although the United States is the second largest source of carbon dioxide, researchers said China, India and other developing countries are the fastest growing emitters of greenhouse gases.
10 Northeastern states, members of the Regional Greenhouse Gas Inititiative, this Thursday held the nation's first auction of pollution credits aimed at curbing greenhouse gas emissions. The goal is to cap carbon emissions in the region and create price incentives that will motivate polluters to curb them. The bigger goal is to pave the way for a national cap-and-trade market. "It is the shape of things to come," said Dale Bryk, senior attorney at the Natural Resources Defense Council.
Following suit, seven Western states and four Canadian provinces this week unveiled a draft plan to institute their own cap-and-trade market for greenhouse gas emissions. While many details remain to be hammered out, the Western Climate Inititiative was greeted enthusiastically by at least one governor: "This is an important road map for what will be the most comprehensive climate program in North America," said California Gov. Arnold Schwarzenegger.
Finally, after months of wrangling, the U.S. Senate passed a major tax bill Thursday evening that would extend federal tax credits to the renewable power industry, among other measures. The wind and solar industries pressed hard for the measures, as did many utilities that seek to offer their customers more renewable energy, including Pacific Gas and Electric. The House passed similar legislation Friday, but it remains unclear whether the two houses can reconcile their legislation before Congress adjourns.