Pledges by states help set America on the path to a 17% cut in emissions by 2025, using 2005 as a baseline
on climate change going to render bits of the planet uninhabitable by 2100? Or will American grit and ingenuity lower the risks? There is evidence for both views. While the White House was issuing an edict seeking to offer relief to coal-fired power stations last week, New York’s state legislature was passing a bill that called on the state to eliminate carbon emissions by 2050. America’s political divide often creates split-screen moments. For the 7.
These objections are too gloomy. A carbon price is indeed the optimal way to reduce pollution, but getting people to pay for carbon has been a vote-loser in America and Europe. In a world of second- or third-best options, targets backed by credible plans to reach them are reasonable. Emissions are indeed coming down thanks to the fracking boom, but there is a limit to how far they can fall if natural gas is the primary material from which electricity is generated.
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