Kyoto

By Mitchel Cohen for MitchellCohen.com. Gore commandeered the Kyoto conference. The U.S. government, he said, would not sign the Accord – as limited as it was – if it imposed emissions reductions on industrial countries. Instead, he demanded that the rest of the world adopt his proposal that would allow industrial nations like the U.S. to continue polluting by establishing an international trade in carbon pollution credits. Gore’s “solution” – like Obama’s – was to turn pollution into a commodity and buy and sell it in the form of “pollution rights”. The free market trade in “pollution credits” would simply shift around pollution and spread it out more evenly without reducing the total amount of ozone-depleting greenhouse gases. It would allow the United States and other industrial countries to continue polluting the rest of the world. In proposing (and imposing) that mechanism, Gore and Clinton were enacting a policy – trade in pollution credits – that had first been put into effect in a more limited way by President George H.W. Bush under the 1990 extension to the Nixon administration’s “Clean Air Act.” The mechanisms were developed by the World Bank (under Summers’ tutelage) and International Monetary Fund, and this quintessential capitalist policy was actually endorsed by several well-known environmental groups.