"Obama to vow greenhouse emissions cuts in Denmark"

AP:

Putting his prestige on the line, President Barack Obama will personally commit the U.S. to a goal of substantially cutting greenhouse gases at next month's Copenhagen climate summit. He will insist America is ready to tackle global warming despite resistance in Congress over higher costs for businesses and homeowners.

Obama will attend the start of the conference Dec. 9 before heading to Oslo to accept the Nobel Peace Prize. He will "put on the table" a U.S. commitment to cut emissions by 17 percent over the next decade, on the way to reducing heat-trapping pollution by 80 percent by mid-century, the White House said.

Cutting U.S. carbon dioxide emissions by one-sixth in just a decade would increase the cost of energy as electric utilities pay for capturing carbon dioxide at coal burning power plants or switch to more expensive alternatives. The price of gasoline likely would increase, and more fuel efficient automobiles — or hybrids that run on gasoline and electricity — likely would be more expensive.
Still, there is widespread disagreement over the cost to consumers.

Obama's promise of greenhouse emissions cuts will require Congress to pass complex climate legislation that the administration says will include an array of measures to ease the price impact. The bills before Congress, for example, would have the government provide polluters free emissions allowances in the early years of the transition from fossil fuels, as well as direct payments to many consumers facing high costs...