Schwarzenneger talks energy, environment with Mayor Bloomberg
(New York - WABC, October 16, 2006) - California Governor Arnold
Schwarzenegger is on the east coast, urging people to go a little more
Mayor Michael Bloomberg took him on a tour of the carbon trading floor
at Credit Suisse Securities Monday. That's where emissions allowances
are bought and sold.
The governor made the tour just hours before he was to announce a push
to connect California's landmark global warming law with the
Northeast's program to reduce greenhouse gas emissions.
"Gov. Schwarzenegger wants to build a large, robust carbon trading
market that will dramatically reduce emissions," said Schwarzenegger
spokesman Adam Mendelsohn. "The more robust the market, the more
effective we will be."
The initiative that Schwarzennegger is here to learn more about
involves seven Northeast states. They have joined in an effort to cut
carbon dioxide emissions at power plants beginning in 2009. Under their
plan, power plants will have to apply for a limited number of so-called
carbon credits, which they can "spend" if they exceed dictated emission
levels. Those that are under their limit can sell their surplus credits
for a profit.
Linking California to that program could help California power plants
meet their obligations under the state's new global warming law.
Schwarzenegger's push against global warming is an issue that has often
put the Republican governor at odds with the Bush administration.
Schwarzenegger this summer urged the governors of Western states to
join California in a regional trading system and signed an agreement
with British Prime Minister Tony Blair to develop new technologies to
combat global warming.
(Copyright 2006 WABC-TV)