Bush taps Paulson for Treasury Secretary
WASHINGTON - Treasury Secretary John Snow resigned Tuesday and President Bush nominated Goldman Sachs chief executive officer Henry M. Paulson Jr. as his replacement — another chapter in the shake-up to revive Bush's troubled presidency.Now it's not really surprising that Snow is out but Paulson would seem to be at the polar opposite of the Bush administration when it comes to global warming and conservation. Think Progress reports:
President Bush’s new nominee for Treasury Secretary, Goldman Sachs Chairman Henry M. Paulson Jr., not only endorses the Kyoto Protocol to limit greenhouse emissions, but argues that the United States’ failure to enact Kyoto undermines the competitiveness of U.S. companies. Here’s a statement from the Nature Conservancy, where Paulson serves as chairman of the board:They also report that:The Kyoto Protocol is a key first step to help slow the onslaught of global warming and benefit conservation efforts…Until the United States passes its own limits on global warming emissions, innovative companies based here will lose out on opportunities to sell reduced emission credits to companies complying with the Kyoto Protocol overseas. Additionally, without enacting our own emission limits, U.S. companies will lose ground to their competitors in Europe, Canada, Japan, and other countries participating in the Protocol who are developing clean technologies.
Paulson’s nomination is strongly opposed by a coalition right-wing groups seeking to cast doubt on climate science, such as the National Center for Public Policy Research, describing Paulson as “diametrically opposed to the positions of [the Bush] Administration.”It will be interesting to see where this leads.