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...result, the bill will achieve most of its stated carbon cuts through offsets and through improving energy efficiency, rather than encouraging the growth of low-carbon renewable electricity. Energy efficiency is an important low-hanging fruit, and the bill will significantly slow the growth of U.S. electricity consumption over time. But carbon offsets are dicey, and may not actually provide the emissions reductions they claim to. (Studies have called into question the quality of the offsets run under the U.N.'s Kyoto Protocol system.) And a new EPA analysis of the bill forecast that the total amount of renewable energy...
...will give us lots of ways to get to 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...
...crop year could aggravate India's overall economic slowdown. "If production suffers, the [low] income effect will bring down rural demand, which has been buoyant so far," says Anjan Roy, Adviser for Economic Affairs at the New Delhi-based Federation of Indian Chambers of Commerce and Industry. "This, in turn, will affect industrial production." Inflation in India is deeply influenced by food and food-related items' prices. Wholesale, retail as well as futures prices of food items are rising every day. "If there's runaway inflation, it will altogether throw economic policy haywire," Roy says. "If the Reserve Bank...
...FICCI says the worst may yet be averted. "Last year the agricultural season was good and procurement was higher than normal," he says, "But the government can start taking preparatory steps such as imports of critical food items such as pulses because currently global food prices are low...
...grown only 2% over the last decade, has already led to much farmer distress. Instances of farmer indebtedness and suicide, already frequent, could go up. Although experts point out that there is no immediate threat to India's food security after last year's bumper crop last year, low yields could make the proposed Food Security Act, new legislation that aims to provide poor families with a legally enforceable right to food, practically difficult to implement. The effects are being felt beyond the farms in urban areas as well, which are reeling under water and power shortages due to declining...