[Calpernia]

EMPHASIS:

“would cost the average American family more than $2,700 a year while having no measurable impact on global temperature.”

[Darkwolf377]

..Nancy Pelosi, D-Calif., and Senate Environment and Public Works Committee chairman Sen. Barbara Boxer, D-Calif.,

That's the point where I bailed out on reading this article.

[Calpernia]

http://www.thehindubusinessline.com/2006/08/27/stories/2006082703600100.htm
Carbon credits: It's advantage China

Excerpt:

China appears to be flooding the carbon trading market with certified emission reductions (CERs) or carbon credits, which are priced lower than those of Indian projects. This is because China has much higher volumes of CERs in the world market compared to India. Each CER represents one tonne of carbon dioxide emission reduction.

As per annual averages, China now accounts for 43 per cent of total CERs registered at the UN, while India accounts for 12.11 per cent. Chinese projects can reduce carbon dioxide emissions by about 36.66 million tonnes per year till 2012, while Indian projects would reduce about 10.17 million tonnes.