Illusory Benefits of Carbon Offsets

Yesterday the San Francisco Chronicle reported on criticisms that environmental groups have with the Waxman-Markey bill, the climate and energy bill currently making its way through the House of Representatives. International Rivers' executive director, Patrick McCully explained the illusory benefits of carbon offsets, since most of them are not additional.The bill would allow up to 2 billion offsets, equivalent to approximately 30% of the US' emissions in 2005. If the total number of offsets are turned in every year, emissions would not decrease within the United States until 2027.  Yet the latest science makes it clear that cuts of at least 40% are needed in advanced economies. My earlier blog, as well as our in-depth analysis describes more fully the problems with the offsets provisions in the bill.