Global warming legislation all hot air
Like the UK’s climate change act (pdf) the US bill calls for an 80% cut by 2050, but in this case the baseline is 2005, not 1990. Between 1990 and 2005, US carbon dioxide emissions from fossil fuels rose from 5.8 to 7bn tonnes.
The cut proposed by 2020 is just 17%, which means that most of the reduction will take place towards the end of the period. What this means is much greater cumulative emissions, which is the only measure that counts. Worse still, it is riddled with so many loopholes and concessions that the bill’s measures might not offset the emissions from the paper it’s printed on…
There are mind-boggling concessions to the biofuels industry, including a promise not to investigate its wider environmental impacts. There’s a provision to allow industry to use 2bn tonnes of carbon offsets a year, which include highly unstable carbon sinks like crop residues left in the soil (another concession won by the powerful farm lobby). These offsets are so generous that if all of them are used, US industry will have to make no carbon cuts at all until 2026.
Like the EU emissions trading scheme (ETS), Waxman-Markey would oblige companies to buy only a small proportion (15%) of their carbon permits. The rest will be given away. This means that a resource belonging to everyone (the right to pollute) is captured by industrial interests without public compensation. The more pollution companies have produced, the greater their free allocation will be – the polluter gets paid.
…[T]he bill actually waters down current legislation, by preventing the Environmental Protection Agency from regulating coal-burning power stations. If the new coal plants planned in the US are built, it’s hard to see how even the feeble targets in this bill can be met, let alone any targets proposed by the science.
So, basically, Congress is planning to pat itself on the back for passing legislation that lets America continue doing business-as-usual for another decade or two, Earth be damned. Sounds like business-as-usual in D.C. — home of faux populists serving their corporate overlords — too. Give the bill a popular title and pretty cover page and let the lobbyists write the other 1,200 pages (the actual length of this bill).
Posted by James on Friday, June 26, 2009