Offsets

Citing the onslaught of shale gas volumes, the Energy Information Administration (EIA) Wednesday projected that dry natural gas production will increase significantly throughout 2040, outpacing domestic consumption by 2020 and spurring net exports of natural gas sooner than the agency had expected.

President Obama proposes to rescind $40 billion in oil and natural gas tax breaks as part of a $467 billion package of savings and offsets to pay for his $447 billion jobs bill, which was to be sent to Congress late Monday.

The adoption of proposed climate change legislation that would reduce 2005 greenhouse gas (GHG) emissions levels 42% by 2030 through the use of offsets and a cap-and-trade system would slow the growth of U.S. gross domestic product (GDP) by only about 1% over the same period, according to an economic analysis released last Wednesday by the United States Climate Action Partnership (USCAP).

The adoption of proposed climate change legislation that would reduce 2005 greenhouse gas (GHG) emissions levels 42% by 2030 through the use of offsets and a cap-and-trade system would slow the growth of U.S. gross domestic product (GDP) by only about 1% over the same period, according to an economic analysis released Wednesday by the United States Climate Action Partnership (USCAP).