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There's a Gold Mine In Environmental Guilt
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Issue
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| Contributor | ArmyDem |
| Last Edited | ArmyDem Oct 06, 2008 07:23pm |
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| Category | News |
| Media | Newspaper - Washington Post |
| News Date | Tuesday, October 7, 2008 01:00:00 AM UTC0:0 |
| Description | Carbon-Offset Sales Brisk Despite Financial Crisis
By David A. Fahrenthold
Washington Post Staff Writer
Monday, October 6, 2008; Page A01
This is strange territory. The Dow is down. Wall Street needs a bailout. But in the Washington area and across the country, there is still a bull market in environmental guilt.
Sales of carbon offsets -- whose buyers pay hard cash to make amends for their sins against the climate -- are up. Still. In some cases, the prices have actually been climbing.
In other words, when nearly everything seems to be selling for less, thousands of individuals and businesses are paying more for nothing, or at least nothing tangible.
Experts say this is possible, in part, for economic reasons: The financial crisis has not yet reached those upper-middle-class consumers who are willing to pay $12 to offset a cross-country flight, $80 for a wedding or $400-plus for a year of life.
But there is also a cultural factor, the legacy of a complicated decade defined by a "green" awakening and a national splurge in consumer spending. Many people have learned to pay to lessen their climate shame -- and, at least for now, they don't think of it as a luxury purchase. |
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