During the recent presidential campaign, President Obama advocated passage of cap-and-trade legislation to control emission of greenhouse gases, or GHGs. As the president reiterated at a business roundtable meeting last week, the concentration of GHGs in the atmosphere has increased rapidly over the past century; this increase can be attributed primarily to human activities; and the consequences of this continuing change may become severe.
These views are consistent with good science. For example, the Intergovernmental Panel on Climate Change has predicted increased temperatures, higher sea levels and more extreme drought and flooding events in our region. A cap-and-trade system is widely perceived as one of the best options available to address climate disruption while minimizing adverse economic effects.
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