To meet the Obama Administration’s targets for cutting greenhouse gas emissions, Americans may have to experience a sobering reality: gas at $7 a gallon, according to researchers.
To reduce carbon dioxide emissions in the transportation sector 14 percent from 2005 levels by 2020 — the target set in the Environmental Protection Agency’s (EPA) budget for fiscal 2010 — the cost of driving would simply have to increase, according to a report released by researchers at Harvard University’s Belfer Center for Science and International Affairs. The research also appears in the March edition of the journal Energy Policy.
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