Word: carbonization
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Saving American citizens money is a worthwhile motive. Yet does businessman Bush miss the point? The goal of controls on carbon dioxide emissions is to decrease the amount of carbon dioxide released. As the cost of something increases, the demand for that same good decreases. As electricity becomes more expensive we will shift sources of power, incurring costs but also stopping climate change, the melting of the polar ice caps...
...admire the private sector, the United States of America is not a company. Bush's sworn duty is not to preserve the power bills of the American people, but to safeguard the nation. As a result, Bush's decision to leave companies free rein with regards to carbon dioxide emissions is a short-term political judgment--a judgment that is ultimately only disappointing...
...would ever ask you to drop a quarter in a tin box for the right to free this invisible spirit from your lungs. Yet last November, Murphy Oil Corp., based in El Dorado, Ark., voluntarily shelled out several hundred thousand dollars for the right to cough out carbon dioxide, the same stuff you exhaled three sentences...
...this context, Murphy's purchase of options on 210,000 metric tons of carbon (the equivalent of annual exhaust from approximately 27,800 cars) from a Canadian company that was itself trying to help meet a national target seems a bit odd. The market for this kind of trade hasn't been established, and there isn't even a global agreement on how carbon dioxide should be valued. Indeed there isn't even unanimity on global warming itself...
...transaction is emblematic of industry on the verge of an environmental transition. Congress may have snubbed the Kyoto accord, and global bureaucrats may be stumbling over the details of a carbon-emissions trading system. But corporations, against the run of play, are beginning to confront the climate conundrum the best way they know how--as a business opportunity. John Browne, CEO of BP Amoco, and Mark Moody-Stuart, chairman of Royal Dutch/Shell Group, have both responded to the global-warming threat and set up internal systems that exceed goals put forth in Kyoto. Shell and BP have vowed...