April 24, 2009 by Robert Tharp at 1:26:05 pm
So CO2 is pollution, so what? Plenty says Gardere's Richard O. Faulk
With the EPA formally declaring Carbon Dioxide a dangerous pollutant last week, the stage is now set for the creation of a cap-and-trade market for greenhouse gases.
What's the big deal about CO2(the bubbles in beer) and five other heat-trapping gasses being considered pollutants? Plenty, says Richard O. Faulk, chair of the Gardere Wynne Sewell LLP Litigation Department. For one thing, the ruling provides another indication that the Obama administration is serious about climate-change policy. As a result, Faulk says now is the time for businesses to look forward and find opportunities in the new regulatory landscape. "The administration has even gone so far as to offer a ‘warning' to American investors about investing in ‘high-carbon' assets such as coal-fired power plants and gas-guzzling cars," Faulk says. "Businesses need to be aware of the administration's position and use it to their advantage. ‘Wait and see' is not the answer; you have to be ready to capitalize when compliance and trading opportunities arise. Now more than ever, knowledge is economic power." To interview Mr. Faulk about climate-change issues, contact Rhonda Reddick at 800-559-4534 or firstname.lastname@example.org.
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