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Ch. 12 Audio Notes

Ch. 12 Audio Notes - passed onto consumers and it will hurt...

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Cap and Trade- Industries that emit CO2 and other greenhouse gases are either given or sold permits that allow them to emit the gasses. They can then trade and sell permits with other companies. The permitting process gets stricter over the years to reduce emissions. IF a particular business is efficient at reducing emissions, it can sell permits to other companies. 2 nd company has incentive to reduce emissions. Advocates say that it was effective in tackling acid rain. Critics say this is essentially a tax on pollution and will be
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Unformatted text preview: passed onto consumers and it will hurt the economy and if you don’t believe in global warming, then you wont be in favor of cap and trade. During 2008 election campaign, global warming was important issue for Democrats and Obama supported cap and trade. He pushed the measure and the House passes cap and trade measure in June. The goal of this bill was 17% reduction in greenhouse gas emissions below 2005 levels by 2020 and 83% reduction by 2050. Bill would be in effect in 2012. Not clear if it will pass senate....
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