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Goldman’s tentacles are smart, and know all about contingency planning. With so much of the firm’s future strategy contingent on Cap And Trade derived profits, the firm is hedging for a downside case scenario. The attached presentation by the Environmental Protection Agency is just the fall back plan. UEA debate notwithstanding, the EPA, after “careful consideration of the full weight of scientific evidence and a thorough review of numerous public comments received on the Proposed Findings published April 24, 2009″ has found that “six greenhouse gases taken in combination endanger both the public health and the public welfare of current and future generations.” Truly an opportune timing for the EPA to come up with this report, seeing how suddenly scientific evidence does not really mean as much as it used to…oh, one month ago. And not to mention that whole Goldman/Cap And Trade backlash of course.

Here are the “definitive” conclusions from the report:

CO2 is dangerous (p.8):

Pursuant to CAA section 202(a), the Administrator finds that greenhouse gases in the atmosphere may reasonably be anticipated both to endanger public health and to endanger public welfare. Specifically, the Administrator is defining the “air pollution” referred to in CAA section 202(a) to be the mix of six long-lived and directly-emitted greenhouse gases: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), and sulfur hexafluoride (SF6). In this document, these six greenhouse gases are referred to as “well-mixed greenhouse gases” in this document (with more precise meanings of “long lived” and “well mixed” provided in Section IV.A)