Dick Lugar
U.S. Senator for Indiana
Contact: Andy Fisher • 202-224-2079 • Date: 7/29/2008
http://lugar.senate.gov • andy_fisher@lugar.senate.gov
Lugar joins National Farmers Union
announcement of carbon credit payments
U.S. Sen. Dick Lugar made the following statement at a Capitol press conference today:
On Earth Day in April 2007, Tom Buis and Richard Sandor, chairman of the Chicago Climate Exchange, came to the Lugar farm in Indiana to celebrate this partnership.
Trading carbon credits was a good idea then. It's a great idea now. It will be an even better idea in the future. Hydrocarbon fuel costs will remain high. World demand for food will remain high. And global climate change pressures will remain high.
We celebrate again today because farmers participating in this market are getting paid for practicing good farming and conservation methods. These will remain sound practices regardless of changes in cap-and-trade policy. Low and no-till methods cut fuel usage without sacrificing production. Lower carbon output, with higher carbon absorption improves the global climate balance. The ingenious market intervention of the Chicago Climate Exchange has given farmers some additional income while allowing carbon emitters a way of offsetting their output. It's always good to get rewarded for doing the right thing.
On the Lugar farm, the Chicago Climate Exchange has estimated that my planting of black walnuts and other trees will sequester 3,400 tons of carbon by 2010. I have credits in my account at the climate exchange, which if I exercised them now, would sell for around $3.89 a ton.
I congratulate my fellow farmers who have enrolled their land with the Chicago Climate Exchange through the partnership with the National Farmer's Union - I especially congratulate the 69 Indiana producers who will earn $134,737.13 from credits they have sold.
U.S. cropland has the potential to reduce projected world increases in carbon by 7 percent and could create over half of the reduction needed in the U.S. under proposed federal carbon caps. I am honored to help celebrate this wonderful beginning with far-sighted partners.
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U.S. Senator for Indiana
Contact: Andy Fisher • 202-224-2079 • Date: 7/29/2008
http://lugar.senate.gov • andy_fisher@lugar.senate.gov
Lugar joins National Farmers Union
announcement of carbon credit payments
U.S. Sen. Dick Lugar made the following statement at a Capitol press conference today:
On Earth Day in April 2007, Tom Buis and Richard Sandor, chairman of the Chicago Climate Exchange, came to the Lugar farm in Indiana to celebrate this partnership.
Trading carbon credits was a good idea then. It's a great idea now. It will be an even better idea in the future. Hydrocarbon fuel costs will remain high. World demand for food will remain high. And global climate change pressures will remain high.
We celebrate again today because farmers participating in this market are getting paid for practicing good farming and conservation methods. These will remain sound practices regardless of changes in cap-and-trade policy. Low and no-till methods cut fuel usage without sacrificing production. Lower carbon output, with higher carbon absorption improves the global climate balance. The ingenious market intervention of the Chicago Climate Exchange has given farmers some additional income while allowing carbon emitters a way of offsetting their output. It's always good to get rewarded for doing the right thing.
On the Lugar farm, the Chicago Climate Exchange has estimated that my planting of black walnuts and other trees will sequester 3,400 tons of carbon by 2010. I have credits in my account at the climate exchange, which if I exercised them now, would sell for around $3.89 a ton.
I congratulate my fellow farmers who have enrolled their land with the Chicago Climate Exchange through the partnership with the National Farmer's Union - I especially congratulate the 69 Indiana producers who will earn $134,737.13 from credits they have sold.
U.S. cropland has the potential to reduce projected world increases in carbon by 7 percent and could create over half of the reduction needed in the U.S. under proposed federal carbon caps. I am honored to help celebrate this wonderful beginning with far-sighted partners.
# # #
