CBO Testimony: The Use of Agricultural Offsets to Reduce Greenhouse Gases
The Use of Agricultural Offsets to Reduce Greenhouse Gases, December 3, 2009. Testimony before the Subcommittee on Conservation, Credit, Energy, and Research, Committee on Agriculture, U.S. House of Representatives.
"Offsets used as a part of a cap-and-trade program for greenhouse-gas emissions have the potential to reduce the cost of meeting the cap by substituting cheaper reductions in greenhouse gases for more expensive ones. The effect of greenhouse gases on the climate does not depend on where and how those gases are produced, but rather on the concentration of those gases in the atmosphere. Consequently, the cheapest way to reduce greenhouse gases by a chosen amount is to create a system that encourages reductions wherever and however they are least costly to make."
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