Finally, the Gover-nator and the California Legislature have responded
(see article at bottom).

Today it no longer can it be said that someone "can't make money", at
least in California, by reducing greenhouse gases.


About a month ago, I saw Gregg Easterbrook of the Brookings
Institution on the Lehrer NewsHour talking just like this:

"Scientific substantiation of a warming world is not necessarily
reason for gloom. Greenhouse gases are an air pollution problem, and
all air pollution problems of the past have cost significantly less to
fix than critics projected, and the solutions have worked faster than

During the 1960's, smog in America was increasing at a worrisome
rate...and an outpouring of technical advances followed. Smog
emissions in the United States have declined by almost half since
1970, and the technology that accomplishes this costs perhaps $100 per

Similarly, two decades ago a "new Silent Spring" was said to loom from
acid rain. In 1991, Congress created a profit incentive to reduce acid
rain: a system of tradable credits that rewards companies that make
the fastest reductions. Since 1991 acid rain emissions have declined
36 percent, and the cost has been only 10 percent of what industry
originally forecast.

Today no one can make money by reducing greenhouse gases, so emissions
rise unchecked. But a system of tradable greenhouse permits, similar
to those for acid rain, would create a profit incentive. Engineers and
entrepreneurs would turn to the problem."


New York Times - August 30, 2006

"California to Cap Greenhouse Gas Emissions

Filed at 6:21 p.m. ET

SACRAMENTO (AP) -- California would become the first state to impose a
limit on all greenhouse gas emissions, including those from industrial
plants, under a landmark deal reached Wednesday by Gov. Arnold
Schwarzenegger and legislative Democrats.

The agreement marks a clear break with the Bush administration and
puts California on a path to reducing its emissions of carbon dioxide
and other greenhouse gases by an estimated 25 percent by 2020...."



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