Word: coal
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Chakravarty and his colleagues crunched total carbon emissions and income distribution from each country to estimate the emissions of individuals in each nation. For example, Australia and France have similar income levels - but because Australia uses more carbon-heavy fuels like coal, there are more Australians than French producing high levels of carbon emissions (above 10 metric tons of CO2 a year). The researchers then compiled those numbers to get a global estimate of how carbon emissions are distributed individually; unsurprisingly, about half of the world's emissions in 2008 came from the planet's 700 million richest people...
Have lunch on the back patio of Fiesta Villa on Main Avenue and watch the railroad cars packed with coal go by - and by and by - and you'll start to understand why. Last year was a great one for energy and agriculture: corn, crude oil, coal and wheat are major state exports. The boom helped push energy outfit MDU Resources onto the Fortune 500 (the first North Dakota firm to make the list) and the state budget to a $1.2 billion surplus. State workers around the country are being told to sit at home without pay to trim costs...
...bill's opponents - Congressional Republicans, along with the oil industry and the National Association of Manufacturers, among others - say cap and trade amounts to a massive tax on U.S. energy, which mostly still comes from carbon-intensive fossil fuels like coal. That's partially true - the whole point behind cap and trade is to raise the cost of emitting carbon and drive investment in energy efficiency and renewable power. "No matter how you doctor it or tailor it, it is a tax," said Representative Joe Pitts, a Pennsylvania Republican...
True, no economic forecast of 15 years into the future is ironclad, but there are enough safety valves and offsets in Waxman-Markey to ensure the cost will be manageable. But that's the problem. To keep conservative Democrats on board - especially those in the coal-heavy Midwest and Southeast - Waxman and Markey allowed the bill to be watered down considerably, loosening the overall carbon cap and scaling back the renewable-energy standard. When the powerful farm lobby balked at the bill, it was changed to allow farmers to sell offsets from agriculture, such as no-till farming, which leaves...
...where we need to go on emissions reductions," says Keohane. But over the long run, we need to cut carbon out of our energy supply - and that means vastly increasing the role of renewables like solar and wind, along with low-carbon sources like nuclear and even coal with carbon capture. That will require plenty of hard scientific research to bring down the price of renewables - they have to be competitive not just in the U.S., but in countries like India and China, which will emit the vast majority of new carbon emissions in the future. "This legislation will finally...