During the climate negotiations in Kyoto in 1997, the U.S. team slipped the idea of emissions trading into the protocol at the last minute. Given Congress' opposition to measures to reduce global warming , it's possible the U.S. could get left behind. Companies can't afford not to be on board, however. In anticipation of an international agreement, UTC, DuPont, BP-Amoco, and many others have committed to reduce emissions. And as the world learns that emissions trading can cut the price of taking action, experts expect the U.S. will sign on.
Experts caution that huge hurdles still lie on the road to an international accord.
But with the help of the invisible hand, it may prove possible to stave off the threat of global warming .