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Here in Vermont, we are finding a solution to the methane problem that makes our cows subtracters from, rather than adders-to, global warming: Cow Power. Some of our largest dairy farms have put in place "methane digesters" that turn methane into elecrical power, which the farm then sells into the power grid. Consumers can buy Cow Power for a few cents more per kwh. Byproducts of the process are smell-less fertilizer (because the methane's gone) and a bedding material for the cows that's more sanitary than sawdust.
These operations require an initial investment of about a million dollars, refundable from the federal government (unfortunately, only AFTER it's up and running!). People are considering how to make it possible to collect waste from smaller farms so they, too, can participate in Cow Power.
Feedlots, though they have other drawbacks (grain consumption, e.g.), could become significant sources of Cow Power (and, theoretically, Pig Power, too, I suppose). So before we all jump on the chicken bandwagon, let's think again!
As always, Vermont leads the way!