Industry braces for carbon regulations
Chevron Corporation
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President Obama isn’t the only world leader talking about energy reform. Carbon regulations have been growing and changing on a global scale for years. However, Chevron CEO David O’Reilly is particularly worried about the next five years. In fact, O’Reilly ranks carbon regulation right up there with swinging oil prices among his list of biggest concerns for the oil sector. In fact, he said it’s possible that carbon will have an even bigger impact on the industry than prices “because it is a virtual unknown.”
Carbon crackdown
More and more countries are crafting policies that limits on carbon dioxide output. Businesses — particularly auto makers, factories and other industries that deal with carbon emissions — will need to accommodate the new regulations. This could cost businesses a big chunk of change, and very few businesses have money to spare these days. Auto makers are already in dire straights and are negotiating with the government over a bailout.
Current legislation
The United States Congress is optimistic that it will finish a bill that regulates greenhouse gas emissions this year. House Speaker Nancy Pelosi says that they will have a bill ready by December. Negotiators plan to participate in global climate talks in Copenhagen, Denmark, in December. The bill they are planning to shape would be a cap-and-trade bill. Under that sort of legislation, there would be a limit on the amount of carbon and other greenhouse gases that businesses could emit. However, businesses could sell or trade their carbon credits among each other as long as overall carbon emission stays the same. Check back with your online payday loan store for updates.
While this is an issue that needs to be addressed. It concerns me that it will be another reason to gouge the consumer even further for energy costs.
Of course it’s going to cost them a bit. I mean, they are used to the way they conduct their production and (a good) “change” generally requires money and hard work. On top of that, it’s absolutely damaging to our environment. I believe it’s worth spending that good chunk on saving our planet. This is definitely an important issue that must be placed in perspective.
After the price of gas hit $4, it’s hard to feel sorry for Chevron. I know they don’t like the idea, but the sooner we can get more fully electric vehicles on the market the better, not only because we can end our oil dependency, but also cut back our fossil fuel pollution.
Watching this carbon dioxide regulation nonsense is like watching an inept pilot make one wrong control input after another to solve a non-problem. The planet has a polution problem not a co2 problem. But as long as there is too much of an opportunity for the “green” industry to make profits from the misinformed public nothing will be solved. Notice how the issue of “polution” has been pushed into the background by vote hungry politicians and profit eager entreprenuers pushing the “green” craze.