US companies awaken
Ten major US companies have joined with environmental groups to call for a national cap-and-trade system for carbon emissions. From the IHT:
“Introduction of this group, which includes industry giants like General Electric, DuPont and Alcoa, is aimed at adding to the recent impetus for congressional action on emissions controls and the creation of a market in which allowances to emit carbon dioxide could be traded in a way that achieves the greatest reduction at the lowest cost.
The diversity of the coalition - some members had already come out for other forms of emissions control, like a carbon tax or voluntary controls, but others had been silent on climate-change issues until now - could send a strong signal that businesses want to get ahead of the increasing political momentum for federal emissions controls, in part to ensure that their long-term interests are protected.
Many energy producers and manufacturers have expressed concern that various state efforts, if not coordinated, could lead to a scattershot system of regulation. Others worry that harsher measures, like a stiff tax on fossil fuels, the biggest contributor to global-warming gases, could be imposed if they do not reach a consensus on a legislative approach.”