The questions below concern the discussion by Panel 2: "Renewable Energy and Crisis, Cost and Carbon." Each question was submitted by attendees of the 2009 Energy Conference. (Senator Jeff Bingaman was the Keynote)
Q: Do you favor a Carbon Tax or carbon Cap & Trade? Since carbon Cap & Trade is fertile ground for abuse and a huge bureaucracy to support it, how would it be imposed? Europe imposed Cap & Trade and it was rife with fraud and failed.
A: I favor carbon Cap & Trade with the condition that offsets are provided. This allows investment in low or no-carbon emissions projects, e.g., reforestation and landfill methane mitigation. If an oil company invests in such ventures and they are effective in offsetting its carbon emissions from extraction or refining, then there is clearly a business outcome and an avoidance of GHG status quo output. A second condition is that the Federal government establish regulatory reform that would limit speculation and manipulation of the price of carbon dioxide. Senator Bingaman has moved in this direction with provisions for government intervention as a seller of credit or allowances if price volatility occurs and threatens the sustainability of trading. Dr. Daniel Fine, NMCEP Research Associate at New Mexico Tech
For more and send your letters to Congress go to the Congress.org Alert on Carbon Cap and Trade-->Congress.org Alert on Carbon Cap and Trade