The development of climate policy in the United States mirrors international developments, with efforts to initiate a coordinated approach giving way to jurisdictions separately taking actions. The centerpiece of US policy is regulation in the electricity sector that identifies a carbon...

Currently, international climate negotiations concentrate on design issues for the flexible instruments outlined in the Kyoto Protocol. As the 6th Conference of the Parties to the U.N. Framework Convention on Climate Change in late 2000 or early 2001 has to take decisions on these matters, it is...