Slump May Limit Moves on Clean Energy

New York Times ^ | November 24, 2008 | Elisabeth Rosenthal

[reaganaut1]

Just as the world seemed poised to combat global warming more aggressively, the economic slump and plunging prices of coal and oil are upending plans to wean businesses and consumers from fossil fuel.

From Italy to China, the threat to jobs, profits and government tax revenues posed by the financial crisis has cast doubt on commitments to cap emissions or phase out polluting factories.

Automakers, especially Detroit’s Big Three, face collapsing sales, threatening their plans to invest heavily in more fuel-efficient cars. And with gas prices now around $2 a gallon in the United States, struggling consumers may be less inclined than they once were to trade in their gas-guzzling models in any case.

President-elect Barack Obama and the European Union have vowed to stick to commitments to cap emissions of carbon dioxide and invest in new green technologies, arguing that government action could stimulate the economy and create new jobs in producing sustainable energy.

But as the United Nations prepares to gather the world’s environment ministers in Poznan, Poland, next week to try to agree on a new treaty to reduce emissions, both the political will and the economic underpinnings for a much more assertive strategy appear shakier than they did even a few weeks ago.

“Yes things have changed,” said Yvo de Boer, executive secretary of the United Nations Framework Convention on Climate Change, in a phone interview. He is organizing the meeting in Poland.

“European industry is saying we can’t deal with financial crisis and reduce emissions at the same time,” he said. “Heads of government have other things on their minds.”

The economic decline also could complicate the political calculus of limiting emissions in developing countries, especially China.

[reaganaut1]

The lower oil and natural gas prices are, the more money Obama will have to throw at "clean energy" to make it viable. Republicans should try to block his "clean energy" boondoggle and his carbon tax.

[Logical me]

Republicans should try to block his "clean energy" boondoggle and his carbon tax.

Not a chance. The Communists (formally the RAT party) has America locked up. What chance do we have, they have the Courts, Senate, House, Executive branch, and worst the brain dead Americans that voted for this empty nitwit. Even Bush gave up for the last 2 years and I firmly believe he saw the complete control of the Country coming on and just gave up.

[cmonkey]

“Slump”? Wasn’t it the worst economy since the great depression before the election? Hopefully this “slump” closes the doors at Pravda on the Hudson aka NY Times.

[dk88]

But ... but GREEN jobs were going to SAVE the economy, create jobs, blah blah blah.

You mean it was all a cost ineffective folly all along? /s

[Night Hides Not]

Obama's gonna get a beyotch-slap upside his head when he goes after coal. Coal currently produces approximately 52% of the nation's electricity, followed by nukes (25%) and hydro (7-8%).

Last time I checked, no new nuclear or hydro plants are under construction. Natural gas is an alternative, but you've still got the CO2 emissions to deal with.

When word gets out that electric bills will double (if not triple) under cap & trade, 44's pretty words aren't going to help him much.

[steelyourfaith]

 

Beam me to Planet Gore !