President Outlines GHG Policy
President George Bush announced goals for reducing greenhouse gas emissions (GHG) and called for a regulatory regime that would set limits on GHGs. The policy includes identifying initiatives for reducing carbon emissions including alternative fuels, increased fuel, lighting and appliance efficiency and the promotion of green building codes as well as efforts to increase the use of renewable power. The White House indicated that the combination of such efforts and accelerating the phase out of hydrochlorofluorocarbons prevents six to 10 billion metric tons of GHGs through 2030. The Administration opposes any cap-and-trade proposals now under consideration in Congress in favor of business incentives for technology development for reducing GHGs, saying they would impose new costs on American business and families at a time when they can least afford it.