Word: marketized
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...effectively tripling the demand for gas. That alone would send oil prices soaring. So, too, would speculation by investors who predict a drop in supplies. "Prices will rise, and people will buy futures," says Drollas. "Traders will buy because they are worried about their supplies." All that could send market prices rocketing - and deepen the global recession. It remains to be seen whether the market remains calmed by Obama's reassurances this week that military action against Iran is not on the agenda...
...more energy-efficient utilities - and those remain a hard sell to American consumers. Even if you succeed in reducing your personal carbon emissions drastically, you'll likely produce only a few tons' worth of carbon credits - and with carbon credits worth around $7 a ton on the voluntary market, you won't exactly be able to retire on the payoff. Plus, the website is still evolving, and the company still needs to find corporate buyers who will take on the credits - which right now would be useful only on a voluntary level, not to meet any corporate carbon reductions required...
...environmental politics. If the bill passes the Senate to become law - no sure thing, given the 60 votes needed in the upper chamber - it would establish the first national caps on carbon emissions. It would also create what would almost certainly be the world's biggest greenhouse-gas market, since companies would have the option to buy and sell carbon credits and offsets. Every smart, efficient enterprise that can rapidly bring down its emissions will be able to make a mint on the carbon market - and so will the carbon middlemen...
...trade may be reserved for the big players, but U.S. carbon emissions are made up of a billion individual decisions - including yours - every day: how much we drive, how much electricity we use, what we eat. Now a new website called My Emissions Exchange promises to bring the carbon market to your front yard. If you can drastically reduce the electricity you use in your home, the site will certify your personal emissions reductions and then broker those credits to companies looking to burnish their green reputations. "You're rewarded in two ways if you bring down your personal emissions...
...trade will be decided in Congress, not on the Internet - but My Emissions Exchange does give a little power to the people, and that's not a bad thing. "We're realistic about the challenges ahead of us," says Herrgesell. "But I think we can make this market work...