Drive millions out of work. Spur new energy technologies with little job loss. All of the above. Nearly a year ago, U.S. negotiators joined in a historic agreement in Kyoto, Japan, that calls on 38 industrial nations to curtail the flow of carbon dioxide and other greenhouse gases into the atmosphere.
Carbon dioxide is the principal greenhouse gas.
There are smart and dumb ways to do things. If you do it dumb, it's going to be very expensive. Clinton administration officials echo that view, and insist the costs can be modest. Change the assumptions on the degree of trading, and the cost numbers change dramatically, says Kopp. Several studies often cited by industry predict even higher costs.