UK, Calif. to strike global warming deal
By JOHN HEILPRIN, Associated Press
WASHINGTON - Britain and California are preparing to sidestep the Bush administration and fight global warming together by creating a joint market for greenhouse gases.
Arnold Schwarzenegger plan to lay the groundwork for a new trans-Atlantic market in carbon dioxide emissions, The Associated Press has learned. Such a move could help California cut carbon dioxide and other heat-trapping gases scientists blame for warming the planet.
President Bush has rejected the idea of ordering such cuts.
Blair and Schwarzenegger were expected to announce their collaboration Monday afternoon in Los Angeles, according to documents provided by British government officials on condition of anonymity because the announcement was forthcoming.
The aim is to fix a price on carbon pollution, an unwanted byproduct of burning fossil fuels like coal, oil and gasoline. The idea is to set overall caps for carbon and reward businesses that find a profitable way to minimize their carbon emissions, thereby encouraging new, greener technologies.
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http://news.yahoo.com/s/ap/20060731/ap_on_re_us/blair_global_warming
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