Driving Sustainable Reductions in Greenhouse Gas Emissions : More than Just Cap-&-Trade

Although “cap and trade” programs for reducing greenhouse gas (GHG) emissions are often discussed as a viable program for the United States (U.S.), it is unlikely that any such program will be adopted in the near future, but there are other options available that President Obama and the Environmental Protection Agency (EPA) may undertake that could be even more effective than cap and trade. EPA has already begun to work on regulatory programs to reduce GHG emissions from motor vehicles as well as some of the larger emitters such as coal-fired electric generating systems and refineries. These interim steps will lead to dramatic reductions in GHG emissions in the short-term. Long-term reductions will require a commitment by the White House and Congress to amend the laws to allow for a Montreal Protocol type fee that would increase the cost of fossil fuel use and reduce the cost gap between fossil fuels and alternate energy sources. Although the U.S. has not implemented a cap and trade program for GHG emissions, there are national programs quietly being implemented that will reduce GHGs. Additional steps are necessary, but it is highly unlikely that Congress will provide any needed support in the near future