356,559 California carbon offsets issued Over 350,000 California carbon offsets were issued this week according to the California Air Resources Board (ARB) website. Businesses purchase California carbon offsets to help meet the state’s goal to improve air quality. Beginning this year, large companies like power plants and fuel refineries are required to accountRead more
Obama Intends for Congress to Pass Climate Bill President Obama said that moving the controversial climate bill through Congress this year is a task he is personally committed to. He said that the oil spill in the Gulf of Mexico underscores the nation’s need to move away from reliance on fossil fuels and “to embraceRead more
North American Carbon Market Valued at $2.4 Billion The value of the North American carbon market grew 279% in 2009, to $2.4 billion, according to the World Bank. With a 487% increase in traded volume from 2008, the 2009 traded volume of North American carbon credits represented 880 million tons of carbon dioxide (CO2) emissionsRead more
Google to Purchase 300,000 Carbon Offsets In a step toward becoming a carbon-neutral company, Google has agreed to purchase 300,000 carbon credits. The credits will come from an offset project located in South Carolina, and will be registered on the Climate Action Reserve (CAR) registry. Carbon industry insiders hope the project catches the eyes ofRead more
Analysis: Climate Bill Will Stimulate Job Creation A report on the Kerry-Lieberman American Power Act by the nonpartisan Peterson Institute of International Economics shows that the bill’s provisions would prompt $41.1 billion in investments in the electricity sector annually between 2011 and 2030. “This stimulates US economic growth and job creation in the first decade,Read more
Analysis: Climate Bill Will Stimulate Job Creation
A report on the Kerry-Lieberman American Power Act by the nonpartisan Peterson Institute of International Economics shows that the bill’s provisions would prompt $41.1 billion in investments in the electricity sector annually between 2011 and 2030. “This stimulates US economic growth and job creation in the first decade, increasing average annual employment by 200,000 jobs,” the report said.
By pricing carbon, the bill would make fossil fuel prices more expensive, but efficiency improvements would “largely offset these energy price increases”, with households seeing between a $136 increase to a $35 decrease in average yearly energy expenditures. Between 2011 and 2030, households would see an average 3 per cent increase in electricity rates and a 5 per cent increase in gasoline prices, the report said. However, any rise in electricity or gasoline prices for households would be offset by energy efficiency gains.
The report said the bill would reduce US oil imports by up to 40 per cent below current levels by 2030, cutting spending on imported oil by $93 billion per year.
WSJ: How Cap-and-Trade Is Working in California When it comes to tackling global warming, “cap and trade” are words often heard but seldom put into practice. That may be about to change. Experts thought the U.S. might adopt its own cap-and-trade system for carbon-dioxide emissions during President Barack Obama ‘s first term, before partisanRead more
Forbes: Why This ‘Big Oil’ CEO Believes In Applying A Price To Carbon This guest article is by Ben van Beurden, CEO of Royal Dutch Shell Cutting greenhouse gas emissions while keeping the lights on for a growing global population is a huge but critical challenge. We have to believe it is a challengeRead more
Bloomberg: Quebec, California Seeking to Boost Size of Carbon Market Less than a year after establishing North America’s largest carbon market, Quebec and California are aggressively recruiting the province of Ontario and other U.S. states to join, Quebec’s premier said. Quebec is discussing a regional market with the governors of New England states andRead more
NYT: Taking a Call for Climate Change to the Streets Legions of demonstrators frustrated by international inaction on global warming descended on New York City on Sunday, marching through the heart of Manhattan with a message of alarm for world leaders set to gather this week at the United Nations for a summit meeting onRead more
CBS: Carbon markets gaining momentum in the US An emerging model for reducing global pollution and promoting renewable energy is quietly gaining traction. Two of the nation’s major carbon trading markets have recently held auctions that brought in hundreds of millions of dollars, funding expected to go toward future “clean energy” projects. Last month,Read more
EPA Targets Aircraft Emissions The EPA last week said it would propose an endangerment finding, which would allow it to regulate aircraft greenhouse gas emissions under the Clean Air Act if it determines that aircraft GHGs contribute to air pollution and endanger public health. The agency says it will release its findings in AprilRead more