Facts about the Waxman-Markey global warming bill and its approach to India and China.
• The bill currently does not require binding action from the largest and fastest growing greenhouse gas emitters: The U.S. goes it alone, at its peril.
• Without China and India, Waxman-Markey Cap and Trade controls imposed on the U.S. will do little to stabilize global emissions levels.
• China now leads the world in greenhouse gas emissions – and continues to seek rapid energy growth, while refusing to enter into binding treaties.
• India's carbon emissions are rising faster than nearly every other nation on the planet, according to the EIA. Between 1980 and 2006, the country's carbon output increased by 341 percent. That’s a greater rate of increase than that of China (312 percent), Brazil (103 percent), Indonesia (238 percent), or Pakistan (272 percent).
• The United States emissions grew just 23 percent in this period.
• By 2006, India was the fourth-largest carbon emitter in the world, with nearly 1,300 million tons of energy related carbon dioxide – and growing. India at this point refuses to participate in binding agreements. (set binding targets)
• “Since the U.S. share of global CO2 production is now less than 25 percent (and is projected to decline as developing nations grow), a 15 percent fall in U.S. CO2 output would lower global CO2 output by less than 4 percent.” – The Washington Post, “Cap and Trade: All Cost, No Benefit,” June 1, 2009.
• Economic conditions in China and India indicate little hope for lowering emissions even in the long term.
• China continues to bring new coal power plants online at a stunning rate and the recent introduction of the extremely affordable Tata Nano will put millions of more cars on the road in India.
• “To achieve its goal of long-term 8 percent growth, India will have to boost its power generation capacity at least six-fold by 2030. Over the period, its emissions are expected to increase fourfold.” – The Economist, “Melting Asia,” June 7, 2008.
