Word: caps
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Even in the U.S., there is a growing consensus that greenhouse-gas reductions are inevitable. In January, Senators John McCain of Arizona and Joseph Lieberman of Connecticut introduced legislation that would cap emissions and allow rights trading. Thirteen U.S. companies, including American Electrical Power, Dupont and Ford, have joined the new Chicago Climate Exchange. Members volunteer to reduce carbon dioxide emissions in a system that lets them practice trading greenhouse-gas credits while trying to deflect regulation and public criticism...
Robert Stavins, an economist at Harvard's Kennedy School of Government, estimates that this cap-and-trade system, vs. a system of rigid caps on each firm's emissions, saves U.S. companies about $1 billion a year in compliance expenses. "It's the most cost-effective way to reduce emissions," he says, "and companies have an incentive to cut pollution so they can sell credits." The Environmental Protection Agency estimates that sulfur dioxide emissions have been halved since 1990 and that Americans save $50 billion a year in health and environmental costs associated with acid rain...
Michael Intrator, a managing director at Natsource, believes that the U.S. should have led the way. "America had a massive information advantage," he says. "We understood how cap-and-trade worked because we traded sulfur dioxide. Now we are left in a sea of uncertainty because we didn't ratify Kyoto. The overarching belief is that sometime we will. But by then, we might be at a competitive disadvantage...
Winning handily, Cole stopped on two separate occasions to tear off his cap and wipe his goggles clean...
Connor said he had to cap the size of a VES class on contemporary Hollywood cinema he is going to teach, because he was already planning on coping with a large English course...