Another frequently asked question concerns how much carbon could be potentially stored in forestry and land use change projects in the United States. The U.S. government has produced several reports that describe carbon storage potential. In general, these estimates do not include economic valuations of current land use and we believe overestimate the economically viable carbon storage options. Approximately one third of the total atmospheric loading of carbon dioxide over the past century and 20 to 25 percent of current annual global emissions results from the loss of carbon in forests and soils. New approaches to the management of vegetation cover and soils across the landscape could store substantial amounts of carbon and provide other environmental benefits.
Landowners can use revenues from emissions trading to implement new management practices.
Higher carbon content in soils and vegetation usually will help agricultural production systems adjust to changes in climate and can reduce the impact of changes in rainfall patterns and severe weather events. In closing, Winrock's experience with measuring carbon storage across a range of projects shows it can be measured to known levels of accuracy and precision at costs well below the expected value of the resulting emissions reduction credits. I would be happy to answer any questions you may have about the various classes of forestry and land use change projects we have measured. Because we have also worked extensively with biofuels and bioenergy systems, I may be able to address questions in these areas as well.