Science, Technology, and Public Policy

Over the past decade, carbon trading has emerged as the industrialized world's primary policy response to global climate change despite considerable controversy. With carbon markets worth $144 billion in 2009, carbon trading represents the largest manifestation of the trend toward market-based environmental governance. In Carbon Coalitions, Jonas Meckling presents the first comprehensive study on the rise of carbon trading and the role business played in making this policy instrument a central pillar of global climate governance.

"The United States ought to be the leader of the world in the energy technology innovation that is needed. It has the largest economy, uses the most energy (and within that total the most oil), has made the largest cumulative contribution to the atmospheric buildup of fossil carbon dioxide that is the dominant driver of global climate change, has a large balance of payments stake in competitiveness in the global energy technology market as well as a large stake in the worldwide economic and security benefits of meeting global energy needs in affordable and sustainable ways, and possesses by many measures the most capable scientific and engineering workforce in the world. The actual performance of this country in energy-technology innovation, however, has been falling short by almost every measure...."

"This chapter proposes to answer five fundamental questions: What exactly is the oil security problem, and how serious is it going forward? Why has it emerged at this point in time, and why has it been so difficult for the U.S. government to take the actions needed to mitigate it? Finally, what alternative policies are likely to be effective as the United States attempts to improve its oil security in the future?"

"This chapter expolres a number of related questions: How much time do we have to act? How much climate change is virtually inevitable? What are the consequences of procrastination? And finally, what is the appropriate role for governments wishing to act in time to reduce the threat of climate change? In addition, the reality of current emissions and policy responses is explored in some detail for the two biggest emitters in the world: the United States and China."

Governments and industry face a dilemma: how to reconcile increased energy demand with the need to reduce atmospheric CO2 concentrations. Carbon capture and storage (CCS) offers a means of reducing pollution from coal-fired power generation.