Monday, November 5, 2007

Lieberman-Warner Climate Bill Would Pay Farmers to Store Carbon in Soil

From Bloomberg:

U.S. farmers can turn their dirt into cash under climate change legislation that pays them to bury pollution blamed for global warming.

The bill would create a potential $24 billion-a-year market for credits representing carbon dioxide stored in soil. Senators Joseph Lieberman, an Independent from Connecticut, and John Warner, a Virginia Republican, are co-sponsoring the measure.

``There is a political calculation here to try to increase support for climate change legislation by providing these offset subsidies, in effect, to agricultural concerns,'' said Tyson Slocum, director of the energy program at consumer advocacy group Public Citizen....MORE

HT: Environmental Leader

Also from Environmental Leader:
Farmers Could Soon Sell Carbon Credits Through CCX