Institute for Public Accuracy
980 National Press Building, Washington, D.C. 20045
(202) 347-0020 * *

Sens. John Kerry, Joseph Lieberman and Lindsey Graham yesterday had a 
news conference where they talked about a "framework" for legislation on 
global warming. Said Lieberman: "You remember the artist formerly known 
as Prince? This is the market-based system for punishing polluters 
previously known as 'cap and trade.'"

     Wysham is a fellow of the Institute for Policy Studies. She is a 
content adviser to the new short film "The Story of Cap and Trade" .

     Wysham said today: "While tens of thousands of concerned global 
citizens are gathered in Copenhagen, grappling with the staggering 
impacts already being felt by the poorest people globally due to climate 
change, the best our Senate can do is reiterate support for a target 
that will get America nowhere near what is required of us to achieve 
climate stability. Instead of leading, we are surrendering to what is 
most expedient for our most heavily subsidized industries -- the fossil 
fuel and nuclear industries.

     "The [senators'] statement suggests strong support for nuclear 
power. The amount of money and energy required to store the carbon 
emitted by coal -- if the technology is ever proven -- and nuclear power 
would be far better spent on investments in energy resources we know 
will be with us forever -- namely, wind, solar, and other non-fossil and 
non-nuclear-based energy resources.

     "The statement also claims it supports the inclusion of a 
significant quantity of 'verifiable offsets' -- which is, according to 
the U.S. Government Accountability Office, an oxymoron. Carbon offsets 
are akin to 'subprime mortgages': They will drive speculators to invest 
in an invisible, highly corruptible, unverifiable market while doing 
nothing to stabilize our climate.

     "Finally, the statement disparages the role of government 
regulation and claims that a 'market approach' is preferable. If ever 
there was a time to not place all of our faith in Wall Street traders to 
solve our nation's problems, this is it."

     Wysham recently wrote the piece "Cap and Trade Should Go the Way of 
the DoDo Before We Do."

A debate is being held this evening in Copenhagen on "cap and trade" at 
7 p.m. local time (1 p.m. ET) with:

*  Dirk Forrister, now managing director of Natsource LLC, an 
environmental fund management and advisory firm and previously chairman 
of the White House Climate Change Task Force in the Clinton 
administration and the energy program manager at Environmental Defense Fund

*  Michael Dorsey, assistant professor in Dartmouth College's 
Environmental Studies Program and the director of the college's Climate 
Justice Research Project

For live video, see:

For more information, contact at the Institute for Public Accuracy:
Sam Husseini, (202) 347-0020, (202) 421-6858; or David Zupan, (541) 484-9167