A recent headline on the front page of the Wall Street Journal hailed the opening of the nation's first "butterfly bank." The "deposits" in this unusual bank are conservation credits earned by preserving an important area of habitat for the Quino checkerspot butterfly, an endangered species restricted to California. The bank's intended customers are other landowners who hope to develop other sites where the butterfly occurs. In order to do so, they can buy credits from the private entrepreneur who established the butterfly bank.

Editors' Summary: With their often substantial assets, parent corporations make attractive targets for parties seeking to remedy environmental harm. However, by challenging a court's jurisdiction over the parent, the parent may force a change of forum or, ultimately, a dismissal of the claims. This Article examines the scope of a parent's liabilities for the actions of its subsidiaries and discusses the jurisdictional issues.

One of the more daunting tasks facing environmental practitioners over the past decade or two has been the recovery of cleanup costs and related relief at sites contaminated with petroleum substances. Parties seeking relief face significant hurdles under the federal environmental statutes. The key federal environmental cost-recovery statute, the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) often provides little help because of its petroleum exclusion.

The focus of much dialogue and debate in the public eye over climate change and greenhouse gas emissions (GHGs) tends to focus on industrial emissions of pollution for manufacturing or the production of electricity. Emissions from transportation sources (like trains, planes, and automobiles) and from the heating, cooling, and lighting of buildings themselves are less readily visible, yet each constitutes roughly a third of America's total greenhouse gas emissions.