If the Lieberman/Warner carbon cap and trade system were passed in 2008 and took effect in 2012 (there's a 4 year gap to allow the EPA to get its rulemaking done and to give regulated industry formal notice of required changes), to comply with the emissions cap, covered sources would have to cut annual emissions by roughly 2 percent per year. By 2020, they would be emitting at 15 percent below the starting point in 2012.
If we waited just 2 years and passed the bill in 2010, to meet the same cumulative emissions cuts, emissions would have to fall by 4.3 percent per year - over twice as quickly - and we’d have to do it year after year until 2020, just to get to the same place. By 2020, emissions from covered sources would have to be cut 23 percent below the starting point in 2014.
http://environmentaldefenseblogs.org/climate411/2008/02/14/price_of_waiting/#comments
As you can see, even a small delay makes meeting emissions reductions goals much harder. Should we wait anyway?
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