The True Impact

Dow Chemical CEO Andrew Liveris summed up the true impact of soaring energy costs as a resetting of the value chain.The fact that 85% of proven U.S. energy reserves are off-limits for environmental reasons is ludicrous,Mr.Liveris feels.It would be O.K. to drill in the outer continental shelf.Countries such as Norway are already doing this without causing environmental destruction.The cap and trade system,which is now before the U.S. Congress and amounts to a tax on the biggest polluters,is a necessary evil.It's the only thing that will reward good behavior at the emissions end.The energy crisis is one of the most complex issues that mankind has presented to itself,Mr.Liveris observed.