US Government Sponsored Organization Admits Greenhouse Gas Emissions are Falling
Bad Economy, Good Environment: Slump Helps U.S. Cut Emissions
<< By Keith Johnson / April 6, 2009 / WSJ
Stephen Power reports:
The economic downturn may be complicating President Obama’s hopes of passing climate change legislation, but it appears to be doing wonders for efforts to cut U.S. greenhouse-gas emissions.
A report issued Monday by the ( Read more... )
<< By Keith Johnson / April 6, 2009 / WSJ
Stephen Power reports:
The economic downturn may be complicating President Obama’s hopes of passing climate change legislation, but it appears to be doing wonders for efforts to cut U.S. greenhouse-gas emissions.
A report issued Monday by the ( Read more... )
Comments 1
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The spike in oil prices led to increased living costs for people living close to the edge, which led to an upsurge in mortgage defaults and the exposure of the toxic assets in the US sub-prime mortgage market, which in turn caused the world economy to collapse as banks lost confidence in their own asset values.
Plus layoffs reduce consumption which leads to fewer manufacturing jobs, sales jobs and loss of value of commercial Real Estate which also hurts banks which hold securities backed by commercial mortgages.
Meanwhile the fossil fuels not consumed by manufacturing due to the declines are translating into less greenhouse gases, less pollution in landfills, etc.
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