Environment committee  I certainly think there is tremendous opportunity for innovation, but I do think we now have a history that shows that innovation is spurred by regulations, financial incentives, and a variety of different policy measures. This is what we're seeing now in the world, for example,

Environment committee  Yes, it would go to a conference committee. The Senate environment and public works committee started with the Waxman-Markey bill, or the ACES bill, if you will, so that large portions of it are almost identical and would not present problems in a conference. But there obviously

Environment committee  I think targets have an important value as you approach a meeting like this, and in fact to some extent Copenhagen can be deemed a success already, in that it has stimulated a great deal of discussion among other countries as to what their targets should be. I have a document tha

Environment committee  Certainly that is one element. I think there are many other elements that go into that consideration.

Environment committee  I don't really have anything to add. I think a lot would depend on how comprehensive the programs were and how they were implemented.

Environment committee  As you probably know, Europe has put forth two targets. One is a 20% reduction and one is a 30% reduction that is contingent on what the actions of other countries are doing. I don't know the calculus they will use to determine whether they go to 20% or 30%, but I do know that th

Environment committee  It's 17% under ACESA and 20% out of the committee, but that is under the cap. My organization has estimated that with the other provisions that are not capped, you would get between 27% and 32% reductions by 2020. So the capped portion would get you 17%. Those sources that are no

Environment committee  I actually don't think it is going to be that challenging, partially because of the use of offsets and it depends on how many offsets come into our system internationally. There is some concern I've heard expressed by the utility companies that there may not be enough offsets in

Environment committee  I do.

Environment committee  I have not.

Environment committee  Yes, I am.

Environment committee  I doubt that. The American legislative process is on its own track. I can't envision a negotiation between the State Department and the Ministry of Foreign Affairs to bring back caps into the U.S. legislative process. I don't know how it would work in Canada. I just don't underst

Environment committee  I think you ought to bear in mind what I just said about the fact that our estimate is that you would get something approximating 30% reduction by 2020 with the U.S. bill. That's something you might want to look at.

Environment committee  Yes.

Environment committee  I think it is possible but very difficult, because obviously an intensity target involves.... The denominator is the GNP, and that is very hard to predict. But I think analysts have looked at it. There are ways to do it, but I think it would be very difficult.