President Bush to Address Nation on Global Warming Issue Tonight
FARMINGDALE, N.Y., Jan. 23, 2007 — Cemtrex Inc. (OTC: CTEX) provided the following update on North American carbon markets after attending the Point Carbon event in Washington, D.C. on January 17-18, 2007:
The U.S. is moving toward serious programs and regulations aimed at controlling greenhouse gas emissions on several fronts. President Bush will present the emerging strategy in his State of the Union address tonight, but there is no advance knowledge of what strategy, possibly from several currently proposed in the Senate and Congress, will emerge.
The McCain-Lieberman Bill (2003-2004) may be revisited in the light of new activities (RGGI and California). Action to implement a plan in the U.S. is promised by mid-2007, with an emphasis on developing alternatives to dependence on foreign oil while taking on the challenges of reducing greenhouse gas emissions. Barbara Boxer (D-CA) is proposing a cap on GHG emissions similar to that implemented recently in California to reduce U.S. emissions by 80% by 2050.
In light of these developments, the Point Carbon event sent a message to the attendees including the public and private sectors to build on the foundations of the Kyoto Protocol and the European Union Emissions Trading System, rather than develop a collection of isolated and regional trading systems with voluntary and/or capped emissions reductions requirements. Global warming is "global" and demands global participation and harmonization of policy. Commonality of CO2-e credits and values is required for linkages among developing climate exchange markets to facilitate development of a global trading system suited to rapid implementation and market distributed financial resources.
Cemtrex is already geared to these market needs in the interest of concerted efforts to greatly reduce global warming through pollution control design engineering, monitoring instrument systems and turnkey development and support of Cap-and-Trade and CDM/JI projects.
Cemtrex provides turnkey services for carbon creation projects from abatement of greenhouse gases pursuant to the Kyoto Protocol and assists project owners in the buying and selling of carbon credits globally. Cemtrex through its MIP division is engaged in manufacturing and selling the most advanced and custom-engineered instruments for emission monitoring. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
For further information, please contact:
Cemtrex Inc.
19 Engineers Lane, Farmingdale, NY 11735
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(516) 816-1400
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