The Ultimate Way To Stop Global Warming

by: Jessica Brown
The Earth’s surface temperature has risen by about 1 degree Fahrenheit in the past century, with accelerated warming during the past two decades. There is new and stronger evidence that most of the warming over the last 50 years is attributable to human activities. Human activities have altered the chemical composition of the atmosphere through the buildup of greenhouse gases—primarily carbon dioxide, methane, and nitrous oxide. The heat-trapping property of these gases is undisputed although uncertainties exist about exactly how earth’s climate responds to them.

Energy from the sun drives the earth’s weather and climate, and heats the earth’s surface; in turn, the earth radiates energy back into space. Atmospheric greenhouse gases (water vapor, carbon dioxide, and other gases) trap some of the outgoing energy, retaining heat somewhat like the glass panels of a greenhouse.

Without this natural “greenhouse effect,” temperatures would be much lower than they are now, and life as known today would not be possible. Instead, thanks to greenhouse gases, the earth’s average temperature is a more hospitable 60°F. However, problems may arise when the atmospheric concentration of greenhouse gases increases.

Since the beginning of the industrial revolution, atmospheric concentrations of carbon dioxide have increased nearly 30%, methane concentrations have more than doubled, and nitrous oxide concentrations have risen by about 15%. These increases have enhanced the heat-trapping capability of the earth’s atmosphere. Consequently, the temperature of the planet earth is rising.

Fossil fuels burned to run cars and trucks, heat homes and businesses, and power factories are responsible for about 98% of world carbon dioxide emissions, 24% of methane emissions, and 18% of nitrous oxide emissions. Increased agriculture, deforestation, landfills, industrial production, and mining also contribute a significant share of emissions. All these have dramatically reduce the lifespan of living earth.

The quest for efficient energy affects every country on the planet. Worldwide there is an increasing interest in developing clean, reliable alternatives to petroleum fuels. Many smart, safe, and clean alternative power sources are available in the market.

People can easily install these clean power sources at their home as alternative energy to help reducing carbon dioxide emission as well as reducing their utilities bill.

In recent year, people has come up with alternative power sources run their cars in order to reduce the spending on petrol gas and of course, reduce the carbon dioxide emission.

Please play your part on global warming. It is easy and at the same time, you could save money!

Treasury near subprime aid deal

The Treasury Department and mortgage industry leaders are putting the final touches on a plan that could save struggling homeowners from foreclosure by freezing interest rates before they reset sharply higher.
With more than 2 million subprime borrowers facing higher mortgage costs and the possible loss of their homes if they cannot meet the payments, Treasury Secretary Henry Paulson is expected to announce details of the plan as soon as Wednesday, sources familiar with the matter told Reuters.
"We're moving as fast as we can move," Paulson told ABC World News with Charles Gibson on Friday.
Mounting mortgage foreclosures have spooked financial markets around the globe in recent months. Many sinking loans had been repackaged as securities and sold to investors, who are scrambling to get a handle on the value of their assets.
In his interview Friday, Paulson said the Treasury initiative was aimed at the "middle group" of borrowers who have the financial ability to own a home but could not survive a big interest rate increase.
"We're focused on those in the center... that are going to have a problem meeting their payments," he said.
News of the initiative helped lift stock prices, which had been battered in recent weeks by growing global credit strains and billions of dollars of write-downs on bad mortgage bets by major financial institutions.
"If credit concerns can ease, then maybe we're out of the woods and a lot of the write-downs are probably over," said David Goerz, chief investment officer at High Mark Capital Management in San Francisco. Shares of lenders and other mortgage-related companies surged, as did shares of home builders.
The American Securitization Forum, which represents many mortgage investors, endorsed Paulson's effort in a statement, saying: "We support loan modifications in appropriate circumstances."
PAYMENT SPIKE SHIELD
Regulators and the mortgage industry are focused on restructuring 30-year subprime loans that carry fixed interest rates for up to three years but then reset at higher rates, hitting borrowers with sharply higher costs.
During a five-year housing boom that ended in 2005, these adjustable-rate loans were widely available to subprime borrowers, whose spotty credit histories left them with limited loan options. While the loans offer initial low, "teaser" interest rates, they reset at rates much higher than those offered to prime borrowers with strong credit records.
As envisioned, Treasury's plan would effectively extend the fixed-rate period for stressed borrowers, shielding them from a payment spike that could push them into foreclosure.
The White House on Friday said it was appropriate to build a "bulwark" against the housing sector's woes, but said it was too soon to discuss details of any plan.
Democratic lawmakers, who have accused the administration and regulators of moving too slowly, welcomed the effort.
"It is imperative that the administration ensure that there is no further delay in reaching homeowners in need of loan modification," said Senate Banking Committee Chairman Christopher Dodd of Connecticut. Dodd's counterpart in the House of Representatives, Rep. Barney Frank of Massachusetts, said he was prepared to move legislation if needed to help the effort.
Federal Reserve Governor Randall Kroszner said modifying loan terms for large groups of borrowers could help alleviate credit market strains. In a speech in Philadelphia on Friday, he warned that about 450,000 subprime borrowers were set to see their mortgage payments increase in each quarter next year.
The number of home foreclosure filings in October jumped by 94 percent to 224,451 from a year earlier, RealtyTrac, an online market of foreclosure of properties, reported on Thursday.
Studies have found that minorities are more likely than whites to get subprime mortgages, though there is no agreement whether that reflects racial steering or economics.
WORKING OUT THE PLAN
Industry representatives and regulators are still thrashing out details of who would qualify for the interest rate amnesty and how long to extend the fixed-rate period of the loans.
Lenders want to limit mortgage relief to borrowers who have a proven record of making payments under the initial rates.
The plan will likely be discussed on Monday at a housing conference organized by the Office of Thrift Supervision. Executives from two major lenders -- Countrywide Financial Corp and Washington Mutual Inc -- are expected to take part.
Paulson discussed the plan at a meeting on Thursday with top banking regulators and industry representatives. OTS Director John Reich "was encouraged with the progress made toward a balanced approach that will help people stay in their homes without negatively affecting the markets," a spokesman for the agency said.In an interview in the December 10 issue of BusinessWeek magazine, Paulson said he hoped to have a final industry consensus on a loan modification plan before the end of the year.