Bush: "Read My Lips! No New Caps!"

Tue, 2007-10-16 06:23Ross Gelbspan
Ross Gelbspan's picture

Bush: "Read My Lips! No New Caps!"

President George W. Bush said on Monday his administration's approach of emphasizing voluntary approaches to address climate change was working and he denounced Kyoto-style mandatory caps as “bad policy.”

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oil change international, subsidies, oil gas exploration

Rich G20 nations are spending about $88 billion (USD) each year to find new coal, oil and gas reserves even though most reserves can never be developed if the world is to avoid catastrophic climate change, according to a new report.

Generous government subsidies are actually propping up fossil fuel exploration which would otherwise be deemed uneconomic, states the report, “...

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