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on both global and domestic programs are included under forest offsets. The United States could reduce or offset its greenhouse gas emissions by between 10 and 40 percent of 1990 levels at low cost, or at some net savings, if proper policies are implemented.

Halocarbon Emissions

Continue the aggressive phaseout of CFC and other halocarbon emissions and the development of substitutes that minimize or eliminate greenhouse gas emissions. (pp. 53, 55–59)

Chlorofluorocarbons not only have a role in the depletion of stratospheric ozone, they also contribute a significant portion of the radiative forcing (i.e., the ability to "trap" heat in the atmosphere) attributable to human activities. The 1987 Montreal Protocol to the Vienna Convention set goals regarding international phaseout of CFC manufacture and emissions. The United States is a party to that agreement as well as to the London Protocol, which requires total phaseout of CFCs, halons, and carbon tetrachloride by 2000 in industrialized countries and by 2010 in developing countries. Unless this agreement is forcefully implemented, the use of CFCs may continue to intensify greenhouse warming. Every effort should be made to develop economical substitutes that do not contribute to greenhouse warming.

Energy Policy

Study in detail the "full social cost pricing" of energy, with a goal of gradually introducing such a system. (pp. 32–33, 68, 69)

On the basis of the principle that the polluter should pay, pricing of energy production and use should reflect the full costs of the associated environmental problems. The concept of full social cost pricing is a goal toward which to strive. Including all social, environmental, and other costs in energy prices would provide consumers and producers with the appropriate information to decide about fuel mix, new investments, and research and development. Such a policy would not be easy to design or implement. Unanticipated winners and losers could emerge, either through improper accounting of externalities, lack of knowledge, or lack of incorporation of other concerns (such as energy security) or through cleverness and innovation. Phasing such a policy in over time is essential to avoid shocks caused by rapid price changes. It would best be coordinated internationally.

Reduce the emission of greenhouse gases during energy use and consumption by enhancing conservation efficiency (pp. 55–59, 60), including action to:

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