[Sustain] Fwd: U.S. Senator Dianne Feinstein responding to your message

[Don Eichelberger]

The following is from a letter I just got from Dianne Feinstein:

>It may also interest you to know that on December 6, 2007, I 
>introduced the "Emission Allowance Market Transparency Act," which 
>establishes federal oversight for new carbon emissions trading 
>markets. This legislation is designed to prevent fraud and 
>manipulation in the greenhouse gas credit markets that are expected 
>to develop once Congress approves comprehensive climate change 
>legislation with a cap-and-trade system for the trading of emissions 
>credits. Specifically, the "Emission Allowance Market Transparency 
>Act" requires the Environmental Protection Agency to create a 
>regulatory structure to oversee the new carbon credit markets.


Is establishing a Carbon Trading Market an efficient way of reducing 
carbon use?  I would agree with setting up a mechanism for carbon 
users to pay in to a fund whose purpose would be to invest in 
technologies and conservation to cut carbon emissions.

But, I fear making carbon a market player will prove a disincentive 
for setting serious carbon emission limits needed to help defuse 
global warming.  And, what will the currency be?

I can easily envision Kennicott Coal paying off its obligations as a 
carbon producer by investing in palm oil plantations in Indonesia, or 
am I misunderstanding?

Who has answers?

Don



Don Eichelberger
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