Remember carbon credits. This was the magical scheme that would allow Al Gore to live in his energy profligate house and various celebrities to fly around the globe in the private jets, pumping tons of carbon into the atmosphere, and do so with a clean conscience. They probably would have done it anyway but gestures count and if you can afford to buy indulgences, then you pick up a few (cheap) then go out and sin some more.
Well, the market in carbon credits has, it seems, tanked.
One suspects that no Google jets will be grounded, nor any Hollywood mansions downsized.
Thought experiment: Imagine you are a national security reporter, covering the release of a massive, 2,000-page report on domestic intelligence gathering activities and future threat assessment from the National Security Agency. But instead of issuing the full report, the NSA issues a 30-page “Summary for Policymakers” (SPM) written by political appointees at the Justice Department, promising that the full 2,000-page report will be released a few days later. Would you print a front-page story based only on the 30-page summary, or would you demand to see the full report?
On September 20, the Environmental Protection Agency proposed strict new limits on emissions from coal-fired power plants. Energy industry critics, along with a number of influential unions, were quick to decry them. The regulations would limit carbon emissions for new coal plants to 1,100 pounds per megawatt hour. The technology to meet this standard, which involves pumping carbon dioxide deep underground, is so expensive that the coal industry says it will effectively prevent new coal plants from being built.
The White House made a foreign policy announcement this morning: "United States and China Reach Agreement on Phase Down of HFCs," the press release reads. HFCs are hydrofluorocarbons, which are sometimes called super greenhouse gases.
President Barack Obama’s climate agenda announced last week represents the latest of many Democratic party efforts to address climate change. Although it includes no new legislation, the president’s plan makes unprecedented use of executive branch powers and offers a great many things that appeal to core Democratic constituencies.
Daniel P. Schrag, a White House climate adviser and director of the Harvard University Center for the Environment, tells the New York Times "a war on coal is exactly what's needed." Later today, President Obama will give a major "climate change" address at Georgetown University.
Speaking today in Stockholm, Sweden, John Kerry called "climate change" a "life and death" issue. And the secretary of state apologized on behalf of the United States for not doing enough to fight "climate change."