News - Environment: Russia doubts market can fix climate change

Oslo - Moscow doubts carbon trading can solve climate change because recent swings in stock and commodities prices show markets are unable to fix global problems, an official Russian document showed.

The document, outlining Russian views on a new UN climate pact meant to be agreed in December 2009, also expressed scepticism about tough international targets for greenhouse gases and said any deal should not be "punitive" to violators.

Deseret News | Huntsman, Springmeyer face off in debate

There were a few tense moments during Thursday night's gubernatorial debate on KCPW radio as Democrat Bob Springmeyer attempted to emphasize his differences with GOP Gov. Jon Huntsman Jr.
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The pair disagreed most strongly on the cap-and-trade system for emissions endorsed by Utah and other members of the Western Climate Initiative. The carbon-trading program is intended to reduce greenhouse-gas emissions in the West.
 
"Cap-and-trade will destroy the coal industry in the state of Utah," Springmeyer said, adding that the state could "kiss goodbye" the heart of the state's coal production, Carbon and Emery counties, as well as its coal-fired power plants.

Springmeyer, a business consultant, said such a system would not only be "disastrous to the coal industry and to electric production," it also would raise energy costs in the state. "I don't want to be the one to tell Utahns they have to pay twice," he said. "Thank you, no."

But Huntsman said it's too soon to tell what the economic impacts of a cap-and-trade system would be and that it was important to "let innovation find a way" to make it workable. "You can't wave it off as unacceptable," he said.