“Scientific assessments of the carbon contained in existing fossil fuel reserves suggest that full exploitation of these reserves is incompatible with the agreed target of no more than 2°C of global warming. The unrestricted extraction of these reserves undermines attempts to limit greenhouse gas emissions. We will start negotiating a global budget for the extraction of fossil fuels from existing reserves, as well as a date for a moratorium on the exploration and development of new reserves. In line with the quantification of the fossil carbon that can be extracted without a high chance of exceeding 2°C of global warming, we will develop a timetable for annual reductions towards that budget. We will develop mechanisms for allocating production within this budget and for enforcement and monitoring.”
In the tiny hamlet of Hairy Hill, Alberta, a highly energy-efficient grain-fed distillery does what it can to offset some of the greenhouse gas emissions spewed by the province\’s dirtier industries—mainly the tar sands.
The upstart company called Growing Power Hairy Hill turns grain, manure and household waste into liquid fuel and electricity while emitting essentially no greenhouse gases. It says it is Canada\’s first \”integrated biorefinery.\”
Hairy Hill is one small gear in Canada\’s carbon-control strategy as the nation struggles to rein in its soaring greenhouse gas emissions. And it is one among more than four dozen government-funded projects that officials hope will help persuade President Obama to approve the Keystone XL, the cross-border pipeline that has been immobilized for years as the Obama administration considers its environmental and climate consequences.
But despite its low carbon footprint, the emissions credits the plant earns under Alberta\’s complex carbon offsetting scheme are a drop in the bucket compared to what the Keystone would add to the atmosphere.