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...meant to create a market-based system to curb global emission of greenhouse gases. To help make this happen, instead of strictly holding countries to their emission reduction commitments under the Kyoto Protocol, it allows companies and countries to continue to pollute if they offset their emissions by purchasing Certified Emissions Reductions (CERs) - each representing 1 ton of carbon - from developing countries -where carbon-reducing modifications to power plants, factories and other facilities would be less costly. This was meant to promote the dispersion of green technology to the developing world, and also give emerging economies like India and China...
...company headquartered outside of New Delhi, emit a gas called HFC-23 during the process of making chemicals for refrigerators and air conditioners. HFC-23 is 11,700 times more harmful to the atmosphere than carbon dioxide. SRF invested $3 million to equip its factory to burn the gas instead of releasing it into the atmosphere, a project that could earn it some 3.8 million CERs annually, worth about $600 million over the next decade...
While this sounds rosy enough, even interest-free money isn’t ever really free. Rather than use its economic leverage to stamp out corruption or push for human rights, as the West does, China’s demand is instead a request that African markets open up to the dumping of Chinese products, that participating governments refuse to recognize Taiwan, and that any development contracts are forged exclusively with Chinese companies...
...nearly 90% of the original stimulus money targeted for infrastructure projects will have been spent by May, and the Highway Trust Fund could be running a shortfall in June, says House Transportation Committee chairman James Oberstar. "[It] means, unless we do something about it, we'll start losing jobs instead of creating jobs in the construction sector," he says. For that reason, one part of a proposed jobs bill would subsidize 30 states that are unlikely to meet their annual highway commitments next year and would top off the Highway Trust Fund. Pelosi last summer had pushed...
...real haggle was over speed of deployment. The military plans carefully, in five- to 10-year increments, and moves with the speed of a supertanker. A good part of the reason the troops were sent to Helmand instead of Kandahar, even though it violated the prevailing counterinsurgency strategy, was that the fortifications already had been built in Helmand; it seemed too late to turn the supertanker around. Obama kept sending plans back to the Pentagon, seeking a faster launch for his "extended surge." The military still isn't entirely sure that it'll be able to move 30,000 troops...