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...make the transition to a low-carbon economy. (Offsets are projects in which companies pay to reduce carbon emissions more cheaply elsewhere, often by funding energy efficiency programs or through forestry, rather than cutting their own emissions.) But as the blogger and former Clinton Administration Energy Department official Joseph Romm has pointed out, total U.S. greenhouse gas emissions were 7.4 billion metric tons in 2005 - meaning that under USCAP, industry could get away with offsetting more than a 25% of total emissions...
...emission allowances under a cap-and-trade system should be given to industry free, rather than auctioned - even though auctioning would push carbon reductions faster. (President-elect Obama has said he's in favor of auctions.) "The proposal is a dead end - and an even deader starting point," writes Romm. (Read "Obama Cleans Up After Bush...
...nominee John McCain, who is skipping the debate despite having made strong action on climate change a key part of his pitch to Independents. (Let's not single out McCain - reportedly Senators Barack Obama and Hillary Clinton may miss the vote as well.) The bill, as climate blogger Joseph Romm put it, is merely being moved from "morgue to anatomy class...
...spending $1.5 billion a year on renewable energy and other green research by 2010. That's already translating to sales today; the company reported revenues of $10.1 billion from environmental products in 2005, up from $6.2 billion in 2004. "What GE is doing is a bellwether," says Joseph Romm, founder of the Center for Energy and Climate Solutions. "There is some style here, but it also has a lot of substance...
Efficiency may not sound like a rallying cry for environmental revolution, but it packs a financial punch. As Joseph J. Romm reports in his book Cool Companies, Xerox, Compaq and 3M are among many firms that have recognized they can cut their greenhouse-gas emissions in half--and enjoy 50% and higher returns on investment--through improved efficiency, better lighting and insulation and smarter motors and building design. The rest of us (small businesses, homeowners, city governments, schools) can reap the same benefits...