A good greenhouse pact
NINE NORTHEASTERN states from Maine to Delaware are poised to lead the nation in showing that the carbon dioxide emissions of power generators can be capped without hurting the region's economic growth. A successful cap-and-trade system here would give the lie to the Bush administration's position that the limits on carbon called for in the Kyoto treaty on global warming would damage the economy. But for the Northeastern agreement to reach its full potential, all nine states have to sign on, and some partner states are concerned that Governor Romney, whose administration called for a regional carbon cap a year ago, might be having second thoughts. Romney's spokesman, Eric Fehrnstrom, said Monday, ''We're working through all the issues, as are the other states."
Scientists have reached broad consensus that man-made greenhouse gases, especially carbon dioxide, are a factor in the warming of global temperatures. Climate change raises sea levels and can cause droughts, and some scientists believe that warmer water in the Gulf of Mexico has been a factor in the intensity of recent hurricanes. Bush backed limits on carbon emissions as a candidate in 2000 but reversed himself as president.
The Northeast's Regional Greenhouse Gas Initiative would commit the New England states and New York, New Jersey, and Delaware to reducing the carbon dioxide emissions of their power plants by 10 percent by 2020. To emit gas, companies would need special carbon allowances, which would be bought and sold among plants in the region.
In each state, some of the carbon allowances would go to a public entity that could sell them and use the proceeds for investment in renewable energy or conservation. Far from making the Northeast uncompetitive, the latest modeling shows that the initiative would raise consumer rates by less than 1 percent. Republican Governor George Pataki of New York, who is, like Romney, considering a run for the presidency, has been in the forefront of building the partnership.
Even though Romney has said in the past that he is not sure greenhouse gases are causing climate change, his administration has made the state a path-breaker on this issue. Last year it produced a thoughtful and comprehensive climate protection plan that specifically called for the state to join others in a regional compact reducing carbon emissions. Now that such an agreement is nearing completion, the governor should sign on as long as the fine print makes sense. If he walks away from a pact that the other states accept, he will hurt the effort to address climate change and will tarnish the reputation for environmental leadership he won by curbing power plants' sulfur dioxide and nitrogen oxide emissions.
