Craig Venter, a genetics specialist at the Venter Institute in Rockville, MD has manufactured a brand new life form in a test tube. The new life form is a form of bacteria. Venter invented this life form as something that could have the ability to absorb carbon monoxide...which could have the potential to reverse the affects of global warming.
I'm not one to want to stifle science or progress, but anyone who doesn't have some concern about this doesn't have a good grasp of human history. Human tinkering with the environment, and introducing non-native species to different parts of the world have been notoriously disasterous...whether it be from planting "thirsty trees" in an attempt to dry up the Everglades or the accidental introduction of the elm bark beetle that has caused dutch elm disease in this country.
There would be huge potential for disaster if this bacteria is put out in the environment -- with no natural predators this bacteria could become terribly invasive and eat up other habitats.
It seems like limiting our consumption is a much better way to control global warming than introducing new species into existance. This isn't a case of can we, but I definitely think we should not in this instance. This is definitely a situation where the law of unintended consequences is in affect.