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...unveiling on Wednesday morning of the Senate's long-awaited draft legislation to reduce U.S. carbon emissions and shift the country to a clean-energy economy signals that Washington is inching ever closer to addressing global warming. The sweeping bill, sponsored by Democratic Senators Barbara Boxer and John Kerry, will cut U.S. greenhouse-gas emissions 20% below 1990 levels by 2020, and 83% by 2050 - targets that in the short term are a bit more ambitious than a similar carbon cap-and-trade bill passed by the House two months ago. "This is the beginning of one of the most...

Author: /time Magazine | Title: Proposed U.S. Carbon Cuts: All Bark, No Bite? | 10/1/2009 | See Source »

Congress is one of them. The Kerry-Boxer bill is only one of several pieces of legislation that the Senate will need to consider as it takes on cap and trade - about which the Finance Committee is only one powerful group that will have its say - and the chances that any kind of carbon cap will pass seem vanishingly small. As long as the Senate is stuck on other business, like health care, Obama and his negotiators will have their hands essentially tied at the U.N. climate-change summit in Copenhagen three months from now. They can't commit...

Author: /time Magazine | Title: Proposed U.S. Carbon Cuts: All Bark, No Bite? | 10/1/2009 | See Source »

...Kerry-Boxer bill, most environmental groups supported it, happy to see a bill with a tighter short-term emissions-reduction target. But the bill still has plenty of holes for a piece of legislation that has been in the works for months, saying little about how allowances for carbon emissions would be distributed among polluting industries - a key part of any cap-and-trade bill. And with natural gas fans blaming the bill for having too little support of natural gas and nuclear fans saying there's not enough support of nuclear, gathering up support from Republican Senators and even...

Author: /time Magazine | Title: Proposed U.S. Carbon Cuts: All Bark, No Bite? | 10/1/2009 | See Source »

...their part, more-radical environmental groups, including Greenpeace, withheld support from the Kerry-Boxer bill - as they did the House cap-and-trade bill - saying its carbon cuts were far too modest to save the climate. Scientifically, they're probably right - the Intergovernmental Panel on Climate Change has said that developed nations like the U.S. need to cut carbon emissions 25% to 40% by 2020 to keep global warming within what is hoped are safe limits. Politically, however, that seems out of question for Congress. Which is why Obama's speech at the U.N. last week was an exercise...

Author: /time Magazine | Title: Proposed U.S. Carbon Cuts: All Bark, No Bite? | 10/1/2009 | See Source »

...neighborhood where I lived as a child, where for decades orderly rows of sturdy brick homes lined each block, is now the urban equivalent of a boxer's mouth, more gaps than teeth. Some of the surviving houses look as if the wrecker's ball is the only thing that could relieve their pain. On the adjacent business streets, commercial activity is so palpably absent you'd think a neutron bomb had been detonated - except the burned-out storefronts and bricked-over windows suggest that something physically destructive happened as well. (See the most important cars of all time...

Author: /time Magazine | Title: Detroit: The Death — and Possible Life — of a Great City | 9/24/2009 | See Source »

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