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How will we power our future? Can we create a healthy and clean economy? Climate One at the

Commonwealth Club is at the forefront of the global debate about energy, economy, and the environment.

Bringing together the brightest and most provocative leaders of our time, Climate One is the place where big ideas get heard.

With thoughtful and insightful discussions on policy, business, science, and culture, Climate One founder Greg Dalton gets to the heart of the matter.

It's our future. It's time to come together.

Welcome to Climate One at the Commonwealth Club. I'm Greg Dalton.

Would capping and trading carbon pollution

create a prosperous and clean economy,

or would it burden consumers and be a boondoggle for Wall Street and

opportunists in developing countries? Touted as a market-based way to internalize the cost of

carbon, now spewed for free into our air, cap-and-trade is at the center of America's quest for a

national energy policy. California and about two dozen states in the U.S., Canada, and Mexico are pursuing

a cap-and-trade system intended to be the foundation of a North American carbon market.

In Washington, D.C., a law creating a national market is either dead in the water on life

support or very much alive, depending on who was asked. Here to discuss these issues with our audience in San Francisco, we have three viewpoints from

an expert economist, Larry Goulder, as chair of the Department of Economics at Stanford University,

an avid advocate, Kristen Everhart, is a legal director at the Natural Resources Defense

Council, and a fervent skeptic, Michael Schellenberger, president of the Breakthrough Institute.

Please welcome them to Climate I.

Professor Guller, let's start with you.

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