A carbon-constrained environment.

The world’s consumers are demanding low-carbon energy sources. As carbon levels increase, the climate will shift to one in which the human race will encounter numerous health, economic and agricultural challenges. These concerns about rising carbon levels have significantly impacted governmental policy, including stimulus spending and particularly tax policy.

Thus far, nine nations have enacted a carbon tax. Less than a week after taking office, President Obama signed an order requiring the DOT to increase CAFE (Corporate Average Fuel Economy: the federal regulation which intends to improve the average fuel economy of cars and light trucks) standards by 2011 and a separate order authorizing states to raise emission standards beyond Federal standards.