Exactly my first thought when I read that. I do like Kudlow, he seems to actually get it. I wish he were forming policy instead of the idiots in congress, who are chasing after some mythical, climate-change bogeyman.
Great description.
The following was on his web site it has since been pulled ( almost 2 years ago now ), but it does still exist on the Chicago Carbon Exchange site.
The copy below is from my saved files.
Lugar Stock Farm, Inc. joins Chicago Climate Exchange® as an Offset Provider (Washington, DC– May 18, 2006) Lugar Stock Farms, Inc., a farm owned by Senator Richard G. Lugar of Indiana and his family, has joined Chicago Climate Exchange (CCX®) as a provider of tradable greenhouse gas emission Offsets.
The 604-acre family-owned farm in Marion County, Indiana produces corn and soybeans. A third of the farm is a classified hardwood tree farm, including significant acreage in black walnut trees that were planted in recent years. Growth of these trees produces oxygen and removes carbon dioxide from the air. The rising concentration of carbon dioxide in the earth’s atmosphere is associated with the risk of global climate change, which could have profound effects on ecosystems, agriculture and human health.
Chicago Climate Exchange (“CCX”) brings together over 170 entities dedicated to building cost-effective, market-based systems for reducing greenhouse gas emissions. Members of CCX include leading companies such as Ford, American Electric Power and IBM, cities such as Chicago and Portland, the State of New Mexico, and major universities, traders and environmental professionals. CCX is an integrated system of rules governing monitoring and independent audit, as well as electronic trading and registry platforms. CCX Members commit to reduce their greenhouse emissions 4% by the end of 2006, and 6% by 2010. Members can reduce emissions internally, and can partner with other members - through trading – to achieve reductions wherever most practical. Trading allows members to comply by financing emission cuts at facilities of other members, or through Offset projects, including reforestation projects. Reforestation and other agricultural projects - continuous conservation tillage, methane capture - mitigate global carbon emissions and yield local environmental benefits, such as cleaner water and wildlife habitat.
“I want to encourage farmers to explore this new opportunity to increase their farm income by using carbon-absorbing environmental practices. We have had testimony in the Senate Agricultural Committee about the potential for farmers to receive ‘green payments’ and now that opportunity can be realized. I would also encourage agricultural and environmental organizations to explore how they may help promote these opportunities among our industries, communities and landowners,” Lugar said.
“Lugar Stock Farms’ membership in CCX demonstrates Senator Lugar’s long-standing personal commitment to sustainable agriculture and forestry. He understands the role that market-based mechanisms can play in rewarding the environmental services provided by farmers, foresters and ranchers. We are honored and proud to be able to further build this environmental market with the help of Senator Lugar’s farm as a source of emission Offsets.” said Dr. Richard L. Sandor, Chairman and CEO of CCX.
Farmers who undertake reforestation, methane collection, continuous conservation tillage or grass plantings may be eligible to earn emission offsets and should contact Nathan Clark at (312) 554-0819.
About Chicago Climate Exchange (CCX): Chicago Climate Exchange is North America's only, and the world's first, legally binding multi-sectoral, rule-based and integrated greenhouse gas emission registry, reduction and trading system. CCX is the only available mechanism through which US based entities may engage in the integrated carbon market with a linked reduction and trading system and is a vital tool for understanding the price of carbon in all operations. CCX members range from large industrial concerns such as DuPont, International Paper, Baxter Healthcare and Temple-Inland, to utilities such as American Electric Power, Tampa Electric and Green Mountain Power, to universities such as Iowa and Minnesota, to non-governmental organizations such as World Resources Institute and Rocky Mountain Institute, to cities such as Portland, OR, Oakland, CA and Chicago, IL, to farmers in Iowa and Nebraska and the Iowa Farm Bureau, to the State of New Mexico, the first U.S. state to join CCX. Eligible emission Offset projects include agricultural soil carbon sequestration, reforestation, landfill and agricultural methane combustion, and switching to lower-emitting such as biomass-based fuels. See www.chicagoclimateexchange.com. ####