Tuesday, January 06, 2009
In Obama’s Team, 2 Camps on Climate
In the fall of 1997, when the Clinton administration was forming its position for the Kyoto climate treaty talks, Lawrence H. Summers argued that the United States would risk damaging the domestic economy if it set overly ambitious goals for reducing carbon emissions.
Lawrence H. Summers, left, and Peter R. Orszag, leaders of the Obama economic team, say a cap-and-trade system should include a “safety valve” against high prices of pollution permits.
Mr. Summers, then the deputy Treasury secretary, said at the time that there was a compelling scientific case for action on global warming but that a too-rapid move against emissions of greenhouse gases risked dire and unknowable economic consequences.
His view prevailed over those of officials arguing for tougher standards, among them Carol M. Browner, then the administrator of the Environmental Protection Agency, and her mentor, Al Gore, then the vice president.
See full Article.