Climate Change
The build-up of greenhouse gases in the atmosphere is already having major effects on global temperatures and sea levels. Climate models are projecting that, by the end of the 21st century, mean global temperatures will be between 3 and 7 degrees Fahrenheit warmer and sea levels will rise, on average, by 0.6 to 2 feet. The multiple consequences of these changes must not be underestimated.
A major contributor to global warming is the burning of fossil fuels. Energy-related emissions of carbon dioxide are estimated to account for 80% of all greenhouse gasses in the U.S. Under a business-as-usual scenario, the U.S. Energy Information Administration estimates that energy-related carbon dioxide emissions will rise 14% by 2020.
The National Commission on Energy Policy, in its 2004 report Ending the Energy Stalemate: A Bipartisan Strategy to Meet America’s Energy Challenges, argues for an economy-wide greenhouse gas cap-and-trade program. Bills have been introduced in Congress that would establish such a program. Other studies have argued the merits of a carbon tax. All experts recognize the importance of finding cost-effective approaches to significantly reducing emissions of greenhouse gases in order to mitigate potentially catastrophic future climate change.