EXTRACTED: Daily News Clips 1/5/22
PIPELINE NEWS
CBC: Pipeline work resumes after blockades in northern B.C., Coastal GasLink says
Bismarck Tribune: North Dakota judge rules thousands of disputed DAPL documents are public records
Manitoulin Expositor: Michigan withdraws Line 5 challenge in federal US court
Milwaukee Journal Sentinel: DNR asks for comments on environmental impact of proposed Enbridge oil pipeline reroute in northern Wisconsin
Nebraska.tv: World's largest carbon capture pipeline proposed to link Nebraska ethanol plants
News Channel Nebraska: Summit Carbon Solutions discusses pipeline to Madison County
KTVO: Proposed carbon capture pipeline concerns southeast Iowa landowners
Richmond Times-Dispatch: SCC rejects Pipeline request
Philadelphia Inquirer: UGI expands Marcellus Shale gas pipeline network
WASHINGTON UPDATES
New York Times: Biden ‘Over-Promised and Under-Delivered’ on Climate. Now, Trouble Looms in 2022.
Politico: CLIMATE CHECK
Politico: RUSH TO EXIT
STATE UPDATES
Bismarck Tribune: Federal Oil Lease Sale Planned For Early 2022 In North Dakota, Montana After Yearlong Pause
Honolulu Star-Advertiser: Hawaii Department of Health upholds emergency order to drain Navy’s Red Hill fuel tanks
Alaska Public Media: Alaska Prepares To Sue Feds Over Contamination On Native Corporation Land
EXTRACTION
Bloomberg: U.S. LNG Exports Top Rivals for First Time on Shale Revolution
Politico: EUROPE SPLIT ON WHAT’S SUSTAINABLE
Reuters: Exxon Q4 earnings poised to exceed pre-pandemic level -analysts
TODAY IN GREENWASHING
KTVZ: Family Access Network receives $2,500 from TC Energy Foundation
OPINION
Financial Post: William Watson: Judge policy by effect, not intent
PIPELINE NEWS
CBC: Pipeline work resumes after blockades in northern B.C., Coastal GasLink says
Betsy Trumpener, 1/4/22
“Coastal GasLink has resumed construction on a section of a pipeline route in northern B.C. that had been blockaded for two weeks in an ongoing dispute over energy pipelines and Indigenous land rights,” the CBC reports. “In an email to CBC News, parent company TC Energy said it had confirmed that "opposition groups had departed" from a forest service road and a Coastal GasLink drill site on the Morice River on Monday. "Work is safely resuming along the Coastal GasLink project route after the holiday break." On Dec. 19, 2021, a group identifying itself as land defenders and water protectors returned to a protest camp to reoccupy the remote area on Wet'suwet'en traditional territory, near Houston B.C., about 1,000 kilometres northeast of Vancouver. Their move to disrupt the construction of Coastal GasLink's natural gas pipeline came just one month after the high-profile arrests of dozens of people blockading the project. Jennifer Wickham, media co-ordinator for the Gidimt'en Checkpoint told CBC News last month that Wet'suwet'en people and their supporters "are doing what they can in order to ensure that no pipelines cross traditional territory." RCMP officers have moved in to arrest people in high profile crackdowns on these blockades in each of the last three years.”
Bismarck Tribune: North Dakota judge rules thousands of disputed DAPL documents are public records
BLAKE NICHOLSON, 1/4/22
“A state judge has ruled that thousands of documents related to security during the construction in North Dakota of the heavily protested Dakota Access Pipeline are public and subject to the state's open records law,” the Bismarck Tribune reports. “The Friday ruling by South Central District Judge Cynthia Feland is a victory for The Intercept news organization, which sued in November 2020 to get access to the documents for investigative journalism on the topics of "environmental justice, the treatment of Indigenous peoples and workers, and government efforts to suppress First Amendment-protected activities." North Dakota Newspaper Association attorney Jack McDonald told the Tribune the ruling also is "a good decision for government transparency" and has wider ramifications. "It establishes clearly that records in possession of a public entity are public records -- absent any specific exemptions -- even if the person submitting those records didn’t intend them to be," he said. "It also establishes that agreements between companies about nondisclosure are only good between those companies, and does not affect those records once in the public domain." “...The documents being held by the North Dakota Private Investigation and Security Board relate to Energy Transfer, the Texas-based company that built the pipeline, and TigerSwan, the North Carolina company that Energy Transfer hired to oversee security during construction… “The Intercept, which bills itself as a news organization seeking to expose corruption and injustice, has written articles critical of TigerSwan, accusing it of infiltrating protest camps and using military-style counterterrorism measures. TigerSwan has long maintained that it provided only consulting services that don't require a North Dakota license and that any actual investigative work occurred in North Carolina.”
Manitoulin Expositor: Michigan withdraws Line 5 challenge in federal US court
1/5/22
“The State of Michigan has dropped its case seeking to enforce Michigan Governor Gretchen Whitmer’s November 2020 revocation and termination of energy giant Enbridge’s Line 5 pipeline running along the lakebed through the Straits of Mackinac,” the Manitoulin Expositor reports. “Enbridge is pleased by the State of Michigan’s decision to drop its case to enforce its November 2020 notice of revocation and termination related to Line 5,” Enbridge media spokesperson Ryan Duffy told the Expositor. “Enbridge will continue to pursue its case in federal court to affirm federal jurisdiction over Line 5.” Earlier this year, Canada invoked the 1977 Transit Pipeline Treaty, complicating Michigan’s plans to have the case heard in state court. US federal judge Janet Neff issued a jurisdictional order noting that “the federal issues in this case are under consideration at the highest levels of this country’s government.” “...Both the current pipeline and the tunnel project are opposed by the 12 American Ojibwe and Odawa bands in the region, as well as Wiikwemkoong Unceded Territory. The bands have their own challenge to the projects, citing treaty rights that guarantee hunting and fishing in the Manitoulin region. Kagawong summer resident Jim Nies of Whitewater Wisconsin and a member of the Waterkeeper Alliance has been vocal in his opposition to Line 5. “I think of myself as something of a bi-national person,” he told The Expositor, “having lived and worked in Canada and having owned property on Manitoulin for decades and spending nearly half my time there since retirement. From either the US or Canadian viewpoint, Line 5 is a disaster.” It is anticipated that Enbridge will now move to have Michigan’s second front in state court also moved into a federal venue. Meanwhile, the US Army Corps of Engineers is conducting an in-depth environmental assessment of the impact of the proposed Enbridge tunnel.”
Milwaukee Journal Sentinel: DNR asks for comments on environmental impact of proposed Enbridge oil pipeline reroute in northern Wisconsin
Laura Schulte, 1/5/22
“The Wisconsin Department of Natural Resources is asking for feedback on the environmental impact of an oil pipeline owned by a Canadian company through the northernmost part of the state,” the Milwaukee Journal Sentinel reports. “The potential impact of the proposed Enbridge Energy pipeline reroute could affect bodies of water, forests and animals, the DNR says in a recent environmental impact report… “About 12 miles of the active pipeline pass through the Bad River reservation, but easements for the line have begun to expire. The tribe filed a lawsuit in 2019 to have the pipeline removed… “As the lawsuit moves forward, there has been constant pushback against the proposed new route. Residents and organizations fear leaks and spills, and they want the DNR to deny the company permission to reroute its line… “The Brothertown Indian Nation, located along the shores of Lake Winnebago in Fond du Lac, said the pipeline will endanger water resources, which is an essential element to life. "There have been over 30 documented spills on Line 5. This evidences that it is not if, rather when, more spills will occur. Every spill will expeditiously reach our waterways and wetlands, causing extensive damage to Land, Plans, Animals, and Humans," vice chair Jessica L. Ryan said in a 2020 letter. "Even after clean-up, vital cultural, food, medicinal, environmental, ecological, and economic resources will continue to suffer for generations." “...The DNR will accept written comments on the pipeline reroute until March 4, with a virtual public hearing on Feb. 2, where members of the public can register to share their thoughts and concerns. A time has not yet been set for that hearing.”
Nebraska.tv: World's largest carbon capture pipeline proposed to link Nebraska ethanol plants
Steve White, 1/4/22
“The world's largest carbon capture pipeline may get its start here in central Nebraska,” Nebraska.tv reports. “The proposed project would link several Nebraska ethanol plants and could make a green fuel even greener by capturing carbon dioxide. “All the local producers produce a lot of corn, a lot goes straight to that plant so it's very important,” Hall County Commissioner Scott Sorensen who represents most of rural Hall County told Nebraska.tv… “Hall County commissioners have questions and say they've started to hear from farmers. “Big question is land use, putting pipe in itself,” Sorensen told Nebraska.tv. “They're going to remove foot of soil before trenching and landowners wonder if it'll get put back and in as good of condition as they say it will.” “...In response to a question about the Keystone XL project that was scrapped, Peterson emphasized it's not an oil pipeline and nothing flammable would be transported, only CO2. He says it's like taking 2.6 million cars off the road and positions ethanol to be competitive in states looking for low carbon fuel. “A project like this will help give a premium in terms of pricing and demand for ethanol in markets around the country, California in particular today that has a low carbon standard,” he said.
News Channel Nebraska: Summit Carbon Solutions discusses pipeline to Madison County
Ryan Pattee, 1/4/22
“At Tuesday's board of commissioners meeting, Summit Carbon Solutions sat down to talk to the board about their plans to build a carbon dioxide pipeline,” News Channel Nebraska reports. “At the meeting, a representative for Summit Carbon, Dayton Murty, discussed many details about the pipeline. "Today I just want to give you (Madison County Commissioners) an overview of what were planning, the economic and environmental impact of that project, what the compensation is going to be like for landowners, and kind of the process of the project as were moving forward." “...For landowners in the anticipated route of the pipeline, Murty says Summit Carbon wants to work with residents and come to an agreement that will be beneficial to both parties. "Summit Carbon Solutions will have land agents assassinated to each individual land owner for the duration of the project," Murty explained. "It is a top priority for Summit to negotiate easements with land owners that are agreeable for both parties and provide value for both parties." Murty also said that for farmers, Summit Carbon would pay for anticipated damages to crops or lands prior to construction, 100% for crop loss in the first year, 80% for the second and 60% for the third.”
KTVO: Proposed carbon capture pipeline concerns southeast Iowa landowners
Tasha Turner, 1/4/22
“A proposed 1,300-mile pipeline project is raising new concerns for landowners in Iowa,” KTVO reports. “Navigator CO₂ Ventures is proposing the Heartland Greenway carbon capture project… “Around a dozen landowners attended a public presentation in Sigourney Tuesday to learn more about the project. Some farmers in attendance are worried their crops will be ruined by the pipeline. According to Navigator Vice-President of Government and Public Affairs, Elizabeth Burns-Thompson, the pipeline will help Iowa in the long run. “A plant that adopts carbon capture in storage has the potential to reduce the carbon score by 50%, which is significant,” said Burns-Thompson. "Significant not only for the longevity for those industries, but the longevity for hanging those markets for [farmers] to have a market for those grains—not just for years, but for decades. Constant improvement is really necessary. The vehicles that came off the lots 10 years ago look a lot different than the vehicles that are coming off the lot today. This is the same for [CO2]” Though the project offers environmental benefits, many property owners fear the pipeline will reduce the value of their land. The main concern raised Tuesday was centered around the potential damages the pipeline could cause. One landowner shared his experience with a previous pipeline built under his land in 2016. “On July 25, 2016 we [landowners] had a meeting with the board of supervisors [where] they filed three notices of violation for inadequate topsoil being removed, insufficient segregation of topsoil and construction actives being completed in wet conditions,” said a Sigourney landowner. “Inspectors in that meeting said the damage they had done was irreparable.”
Richmond Times-Dispatch: SCC rejects Pipeline request
By Jim Ridolphi, 1/4/22
“In a ruling issued in December 2021, The Virginia State Corporation Commission (SCC) denied a request by Chickahominy Pipeline LLC (CPLLC) to construct an 85-mile natural gas pipeline without agency regulation or approval,” the Richmond Times-Dispatch reports. “The proposed project would provide a supply of natural gas for a proposed power plant in Charles City and would extend through five Central Virginia counties including Hanover, but the SCC ruling places the future of the project in question. Beth Minear, a spokesperson for CPLLC, said earlier this month that a negative SCC ruling would not force the company to “abandon” the project and the developer would seek other options regarding the project. Company officials maintained in several SCC filings that the project did not require SCC approval since the gas was targeted for wholesale use. In other words, the transported gas would be processed in Charles City and distributed to power providers in the region but not sold directly to customers. The latest ruling enforces the SCC’s earlier position that Chickahominy Pipeline LLC is a public utility and subject to agency regulation and approval. The rejection bolstered the objections of a number of citizens who have expressed concerns regarding the proposed project. They formed a group called Citizens Against the Chickahominy Pipeline… “In a Zoom session held earlier this month, pipeline officials said the lack of outreach was a mistake, and admitted some residents were hesitant to allow inspection of their property for the project.”
Philadelphia Inquirer: UGI expands Marcellus Shale gas pipeline network
Andrew Maykuth, 1/4/22
“In another sign of the ongoing demand for fossil fuels, UGI Corp., the Valley Forge energy company, is expanding its natural gas pipeline network in Pennsylvania’s Marcellus Shale region,” the Philadelphia Inquirer reports. “UGI Energy Services LLC announced Tuesday that it will pay $190 million to acquire Stonehenge Appalachia, a 47-mile pipeline in Butler County that transports natural gas produced from local wells to interstate pipelines. The acquisition is UGI’s third deal in recent years that has expanded its footprint in the shale-gas region northeast of Pittsburgh. The largest deal was the $1.3 billion acquisition in 2019 of Columbia Midstream Group LLC, a 240-mile system in Butler, Armstrong, and Indiana Counties that includes the Big Pine pipeline. UGI last year also bought a 49% interest in the Pine Run Midstream system, which like the Stonehedge pipeline, is interconnected with the larger Big Pine system. Together, the three pipelines form what is known as a “midstream system,” which connects gathering pipelines linked to individual wells to big interstate pipelines, which deliver fuel to distant, large customers, including power plants and local utilities.”
WASHINGTON UPDATES
New York Times: Biden ‘Over-Promised and Under-Delivered’ on Climate. Now, Trouble Looms in 2022.
Lisa Friedman, 1/4/22
“As the new year opens, President Biden faces an increasingly narrow path to fulfill his ambitious goal of slashing the greenhouse gases generated by the United States that are helping to warm the planet to dangerous levels,” the New York Times reports. “His Build Back Better Act, which contains $555 billion in proposed climate action, is in limbo on Capitol Hill. The Supreme Court is set to hear a pivotal case in February that could significantly restrict his authority to regulate the carbon dioxide that spews from power plants and is driving climate change. And the midterm elections loom in November, threatening his party’s control of Congress. Since Republicans have shown little appetite for climate action, a Republican takeover of one or both chambers could freeze movement for years. The mounting challenges make the next few months critical to secure the safety of the planet as well as Mr. Biden’s climate legacy, analysts told the Times. “If they can’t pull this off, then we failed; the country has failed the climate test,” John Podesta, a former senior counselor to President Barack Obama and founder of the Center for American Progress, a left-leaning think tank, told the Times… “If you can’t meet the goal, you’ve lost credibility internationally,” Mr. Podesta told the Times, adding that he would grade Mr. Biden’s first year on climate policy as “an incomplete.” “...Joe Biden started strong with the executive actions back in January and since then he has really been a disappointment,” Ellen Sciales, a spokeswoman for the Sunrise Movement, a youth-led environmental group that helped spur a jump in young voters concerned about climate in 2020, told the Times. She told the Times she feared it would be difficult to turn out those voters again in November.”
Politico: CLIMATE CHECK
Matthew Choi, Josh Siegel, 1/4/22
“The Senate returns today after the snow day on Monday, and despite the December blow up of the Build Back Better Act, Democrats are still optimistic that significant climate change provisions will make it into a salvaged version of the bill that Sen. Joe Manchin can support,” Politico reports. “That assessment comes even though there is little indication that any real progress was made on reaching a deal over the holidays. “My understanding is that the climate piece had been reworked and Manchinized so much already that it wasn't the deal breaker, so obviously I am expecting it to make the cut,” Rep. Jared Huffman (D-Calif.), told Politico… “Frank Maisano, an energy lobbyist at Bracewell, observed in a note Monday that Manchin has “shown a willingness to move forward with many of the climate provisions in BBB if some other changes are made on the much bigger political issues,” such as the child tax credit. There haven’t been substantive breakthroughs, though, over outstanding energy policy areas such as the methane fee, pro-union EV tax credits, and 45Q carbon capture subsidies, Politico reports.
Politico: RUSH TO EXIT
Matthew Choi, Josh Siegel, 1/4/22
“Rep. Bobby Rush (D-Ill.), chair of the House Energy and Commerce's energy subpanel, is not seeking reelection this year” he told Politico. Rush told Politico he plans to focus on his work as a pastor in Chicago's South Side after 30 years in the House. His district is in a comfortably Democratic area, and he denied his decision had anything to do with the predicted Democratic losses in this year's elections… “As Energy subcommittee chair, Rush introduced legislation that would offer federal assistance for state's energy security plans that was included in the bipartisan infrastructure package, as well as a bill directing FERC to create a new entity to ensure pipeline reliability and cybersecurity.”
STATE UPDATES
Bismarck Tribune: Federal Oil Lease Sale Planned For Early 2022 In North Dakota, Montana After Yearlong Pause
1/4/21
“Oil and gas leasing on federal lands is expected to resume early this year in North Dakota and Montana after the Biden administration halted the process nationwide almost one year ago,” the Bismarck Tribune reports. “The federal Bureau of Land Management is planning a lease sale for the first quarter of 2022 with 6,850 federally owned mineral acres up for grabs in western North Dakota and eastern Montana. The agency has not yet announced a date, nor has it finalized details of the sale. Oil and gas companies will bid to secure federal leases during the event, and those that are successful will have a 10-year window to obtain a federal permit allowing them to drill. President Joe Biden halted the leasing process upon taking office last January when he issued an executive order announcing a review of the program ‘to restore balance on America’s public lands and waters to benefit current and future generations.’ While that now-concluded review took place, oil- and gas-producing states including North Dakota and Montana sued to try to force leasing to continue.”
Honolulu Star-Advertiser: Hawaii Department of Health upholds emergency order to drain Navy’s Red Hill fuel tanks
By Sophie Cocke, 1/4/22
“The state Department of Health is standing by its emergency order instructing the Navy to drain its Red Hill fuel tanks and correct deficiencies at the fuel facility before seeking state permission to resume operations,” the Honolulu Star-Advertiser reports. “The Navy has been fighting the Dec. 6 order through an administrative hearing process that culminated Monday with DOH Deputy Director Marian Tsuji issuing a final decision that upheld the emergency order in its entirety, as recommended by David Day, the DOH hearing officer overseeing the case. The Navy has 30 days to appeal the decision to Hawaii Circuit Court but has not said whether it intends to do so. A Navy spokeswoman Monday said only that the Navy is reviewing the decision. The emergency order will remain in effect unless stayed by a court. In upholding the emergency order, Tsuji summarily dismissed 43 pages of objections that the Navy submitted last week laying out its objections to Day’s findings and conclusions in the case… “The emergency order was issued after users of the Navy’s water system in and around Joint Base Pearl Harbor-Hickam began reporting a fuel or chemical odor coming from their faucets in late November. They also reported health effects associated with drinking and having contact with petroleum- contaminated water, including skin rashes, vomiting, diarrhea and headaches.”
Alaska Public Media: Alaska Prepares To Sue Feds Over Contamination On Native Corporation Land
1/4/22
“The state of Alaska is preparing to file lawsuits against the federal government over hundreds of contaminated sites that the feds conveyed to Alaska Native corporations,” Alaska Public Media reports. “Alaska Commissioner of Environment Conservation Jason Brune told APM the corporations weren’t aware of the pollution when they selected the lands as part of the Alaska Native Claims Settlement Act. ‘The village corporations (and) the regional corporations were promised lands as a direct offshoot of the 1971 ANCSA law and they didn’t expect to get damaged goods,’ Brune told APM. Much of the contamination is on former military installations and dates back to the Cold War or World War II. Sites include a chemical weapons dump in Adak as well as old tank farms all over Alaska and abandoned buildings that contain lead and asbestos. There are 548 sites, and the state filed 548 notices of intent to sue in mid-December. ‘We want the sites cleaned up,’ Brune told APM. ‘That is our ultimate goal here.’ Brune told APM he pursued the matter with the Trump administration also but didn’t get results.”
EXTRACTION
Bloomberg: U.S. LNG Exports Top Rivals for First Time on Shale Revolution
Stephen Stapczynski, 1/4/22
“The U.S. was the world’s biggest exporter of liquefied natural gas last month for the first time ever, as projects ramped up production and deliveries surged to energy-starved Europe,” Bloomberg reports. “Output from American facilities edged above Qatar in December due largely to a jump in exports from the Sabine Pass and Freeport facilities, according to ship-tracking data compiled by Bloomberg. Cheniere Energy Inc. said last month that it achieved its first cargo from a new production unit at its Sabine Pass plant. A shale gas revolution, coupled with billions of dollars of investments in liquefaction facilities, transformed the U.S. from a net LNG importer to a top exporter in less than a decade. U.S. natural gas production has surged by roughly 70% from 2010 after a combination of horizontal drilling and hydraulic fracturing unlocked supplies from shale formations across the country.”
Politico: EUROPE SPLIT ON WHAT’S SUSTAINABLE
Matthew Choi, Josh Siegel, 1/4/22
“The European Commission offered a proposal to treat nuclear and natural gas as sustainable under its energy investments labeling system, leading to stiff pushback and highlighting differences across the continent on transitioning to cleaner energy,” Politico reports. “A growing sentiment in Europe’s capitals views renewable generation as not yet ready to carry the continent’s ever-expanding electricity needs, pushing nuclear and natural gas to be increasingly viewed as necessary transition sources. French President Emmanuel Macron announced last year that the country would build more nuclear power, which is already its leading energy source. But in Germany, Chancellor Olaf Scholz’ spokesperson soundly rejected the inclusion of nuclear as a sustainable source following outcry from members of his country’s green party and high-profile green ministers.”
Reuters: Exxon Q4 earnings poised to exceed pre-pandemic level -analysts
By Sabrina Valle, 1/3/22
“Exxon Mobil Corp’s fourth quarter profit should top Wall Street’s consensus and surpass its pre-pandemic levels, lifted by better-than-expected earnings from oil and gas, analysts told Reuters. “Credit Suisse, Scotiabank and JPMorgan have raised their fourth quarter earnings estimates following Exxon’s flagging of sharply higher oil and gas operating profit last week. Official results are due on Feb. 1. The higher earnings outlooks lifted Exxon shares 3.8% on Monday to $63.51 on top of Friday’s less than 1% gain. The stock rose 48% last year but remains below where it traded two years ago. In 2020, the largest U.S. oil producer suffered a historic $22.4 billion loss from falling oil prices and lower refining margins. Cost cuts and energy price hikes allowed it to pay down debt and plot a share buyback program this year. An Exxon securities filing signaled quarterly results “above the midpoint” of prior guidance and “well above pre-pandemic levels,” Credit Suisse analyst Manav Gupta wrote in a note on Friday. The company could earn $8.2 billion, or $1.93 per share, according to the mid-point average estimate of the three banks that have updated their estimates, excluding one-time items.”
TODAY IN GREENWASHING
KTVZ: Family Access Network receives $2,500 from TC Energy Foundation
1/4/22
“The Family Access Network (FAN) has received $2,500 from TC Energy Foundation to support basic-needs resources for low-income children and their family members in Central Oregon,” KTVZ reports. “The New Year brings continuing challenges for FAN families. We’re grateful TC Energy Foundation recognizes the work FAN is doing to alleviate poverty and help families regain self-sufficiency during these difficult times,” Lauren Olson, FAN Foundation Board Chair, told KTVZ. Giving back to the communities where they operate is an important value at TC Energy Foundation… “In 2020, TC Energy invested C$35M in communities where they live and work across North America, through their giving programs. They are proud to support educational programs, first responders, and environmental sustainability in the regions where they operate.”
OPINION
Financial Post: William Watson: Judge policy by effect, not intent
William Watson, 1/4/22
“My New Year’s resolution for 2022 is to get as many people as possible to read Ross McKitrick’s column on Ontario’s net-zero climate policy that appears elsewhere on this page. Net-zero may be the policy’s aim, McKitrick argues, but net-zero is also, roughly, its benefit,” William Watson writes for the Financial Post. “The atmosphere is a global commons. Emissions into the atmosphere are a global problem. Ontario is part of the problem, as we all are, but such a small part that even if it reduced its emissions completely to zero — which isn’t going to happen — that would have only a negligible effect on global totals, especially if other countries increased their emissions in response to Ontario’s reduction, as they would, for instance, if they took over industry that left Ontario because high emissions charges prevented profitable business operations there. If a world emissions problem is to be solved, the world is going to have to address it… “For policies that try to effect social improvements, however, what counts is bang per buck. And you don’t have to be overly cynical to think that for many programs the main bang is in the announcement of the policy itself.”