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The cost of cap and trade.
How expensive would the cap-and-trade measures (which limit each industry's C[O.sub.2] emissions and allow them to sell any emission allowances that they don't use) of the Climate Stewardship Act be if that measure becomes law? One way to tell may be to revisit an analysis of the Kyoto Accord, the UN agreement on greenhouse gases. That agreement also created a cap-and-trade system for reducing carbon emissions. According to William O'Keefe, head of the George C. Marshall Institute, "Ratification [of Kyoto] by the U.S. would have cost the economy some $200 billion every year." What about the new cap-and-trade plans before Congress today? A stark summary of the likely economic impact of the earlier Lieberman-McCain plan on which current proposals are based was prepared in 2003 by economist Terry Dinan of the Congressional Budget Office. "A cap-and-trade program for carbon emissions could impose significant costs on the economy," Dinan noted in his study. "Those losses would include the value of society's resources (capital, labor, and natural resources) that would be devoted to producing goods in ways that yielded lower carbon emissions."
Moreover, the costs associated with ...
- Automakers back carbon emissions caps.
- Newspaper article from: The Oil Daily Dinesh, Manimoli March 15, 2007 700+ words
...evident when he said that a cap-and-trade climate...for mandatory carbon caps is significant to Democrats...economy-wide mandatory cap-and-trade climate...support for mandatory caps from auto companies seemed...for nearly 40% of the carbon emissions. "We would support...
- Carbon emissions cap disputed.(UK environment)
- Magazine article from: Chemistry and Industry Mitchell, Peter January 17, 2005 700+ words
...permitted industrial carbon emissions above the target levels...allocation plan (NAP) for carbon emissions during 2005-2007...had underestimated carbon emissions for the period by 7...the UK's emissions cap by about 3%. But...
- US declines to place caps on carbon emissions.
- News wire article from: PTI - The Press Trust of India Ltd. February 3, 2007 700+ words
US declines to place caps on carbon emissions Washington, Feb 3 (PTI) The US has declined to place caps on carbon emissions saying it might damage its economy...nations have demanded. "A carbon cap in this country may lead to...
- U.S. power executives anticipate caps on carbon emissions and plan to adapt...
- News wire article from: The America's Intelligence Wire October 24, 2006 700+ words
...is made on reducing carbon emissions, according to experts...prevent mandatory carbon caps, calling them an unnecessary...voluntarily agreed to cap their carbon emissions in the United States...Northeast, a regional "cap and trade" system...
- Key Senate panel weighs in on proposal for carbon emissions caps.(Senate Energy...
- Newspaper article from: The Oil Daily Dillon, Robert February 23, 2007 700+ words
...would establish a national cap-and-trade program for carbon emissions. The measure would set...to mandatory limits on carbon emissions and Bingaman is trying...s spokesman. Cutting carbon emissions is part of Bingaman...
- ENVIRONMENT: PROTESTERS TELL CONGRESS TO CAP CARBON EMISSIONS.
- News wire article from: Interpress Service April 16, 2007 700+ words
...percent cuts in climate-changing carbon emissions by 2050. The protests, held...stringency of greenhouse gas emissions caps. Observers say differences in...at least 25 percent of total carbon emissions in the world, it has no obligation...
- The president continues to say that he wants Congress to enact a cap on carbon...
- Magazine article from: National Review April 20, 2009 700+ words
* The president continues to say that he wants Congress to enact a cap on carbon emissions this year. But the Senate looks less and less likely to give him what he wants. In part, that is because the Democratic majority...
- U.S. official says mandatory caps on carbon emissions would slow economic...
- News wire article from: The America's Intelligence Wire January 10, 2006 700+ words
...hurricanes that lashed the United States last year. Among such technologies are geosequestration _ a process of burying carbon emissions underground _ and clean coal, which is treated so that it gives off fewer emissions when burned. Australian media have...
- Power play: data centers brace for Obama's new energy plan: the president's...
- Magazine article from: Computerworld Thibodeau, Patrick March 30, 2009 700+ words
...under President Barack Obama's proposed cap-and-trade energy plan. [ILLUSTRATION OMITTED] The cap-and-trade scheme is designed to impose...clean energy sources. The government would cap overall carbon dioxide emissions and then...
- EU cuts Dutch, Belgian carbon emissions cap for 2008-2012.
- News wire article from: The America's Intelligence Wire January 16, 2007 700+ words
...85.8 million metric tons of carbon dioxide, it said _ 5 percent below what Amsterdam had asked for. Belgium will have to cap emissions at 58.5 million metric tons of carbon dioxide, 7 percent below what the government wanted. Emissions trading is...
Source: HighBeam Research, The cost of cap and trade.