Earth Equity News

Kerry: 'It's Open How You Price Carbon;' Graham: 'Carbon Tax Has No Support'. Reuters, January 28, 2010. "U.S. climate envoy Todd Stern gave notice to the United Nations that the country will aim for a 17 percent emissions cut in carbon dioxide and other gases blamed for global warming by 2020, from 2005 levels. The move... was conditional on other countries also submitting their pollution-cutting targets to the accord, Stern said. The condition was likely aimed at fence-sitters in Congress who do not want to see the United States commit to steps on fighting global warming unless other major polluters like China and India go along. John Kerry, the Democratic U.S. senator working on a compromise climate bill, insisted that Congress would put a price on carbon, forcing companies to pay for their global warming pollution... But he followed the lead of President Barack Obama, who called for a comprehensive climate plan during Wednesday's State of the Union speech without mentioning one of its most controversial and complicated elements, cap-and-trade, which would allow companies to trade rights to pollute. 'It's open to how you price carbon,' Kerry told Reuters. 'People need to relax and look at all the ways you might price carbon. We're not pinned down to one approach.' Kerry, who is working on the bill with Republican Senator Lindsey Graham and independent Senator Joe Lieberman, strongly rejected the idea that progress had bogged down... Graham said cap-and-dividend, which would mandate carbon emission reductions while limiting the trading of pollution permits, is under review along with other options. Under that system, polluters would be required to buy carbon credits in auctions and consumers would receive most proceeds. A carbon tax has no support in Congress, Graham said."