I. Introduction

The impetus for a meaningful U.S. climate policy is growing. Scientific evidence has increased (Intergovernmental Panel on Climate Change, 2007a, b), public concern has been magnified, and many people perceive what they believe to be evidence of climate change in progress. Such concern is reinforced by the aggressive positions of key advocacy groups, which are no longer limited on this issue to the usual environmental interest groups; religious lobbies, for example, have also been vocal. This has been reflected in greatly heightened attention by the news media. The overall result is that a large and growing share of the U.S. population now believes that government action is warranted (Bannon et al., 2007).

In the absence of federal policy, regions, states, and even cities have moved forward with their own proposals for policies intended to reduce the emissions of carbon dioxide (CO2)and other greenhouse gases. Partly in response to fears of a fractured set of regional policies, an increasing number of large corporations, sometimes acting individually, and at other times in coalitions--together with environmental advocacy groups--have announced their support for serious national action. Building upon this is the April 2007 U.S. Supreme Court decision that the Administration has the legislative authority to regulate CO emissions, as well as ongoing pressure from European and other nations for the United States to re-establish its international credibility in this realm by enacting a meaningful domestic climate policy.