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Obama calls for cap-and-trade program (carbon credits)
Marketwatch ^ | October 8, 2007 | William L. Watts

Posted on 10/09/2007 12:28:24 PM PDT by Shermy

WASHINGTON (MarketWatch) -- Democratic presidential contender Barack Obama on Monday said that if elected he would establish an economy-wide cap-and-trade program that would sharply cut greenhouse-gas emissions by 2050. In a speech prepared for delivery in Portsmouth, N.H., the Illinois senator said the cap-and-trade plan would be the centerpiece of a wide-ranging set of measures designed to cut emissions of gases tied to global warming and weaning the United States off of dependence on oil.

Under a cap-and-trade plan, companies that produce carbon dioxide and other greenhouse gases receive or buy credits that give them the right to emit a certain amount. Companies that emit less carbon than their credits allow can profit by selling any excess credits on the open market, while those that exceed their emission allowance have to make up the difference or face heavy fines.

Obama's plan would require all credits to be purchased at auction, rather than allocated by industry -- a move his campaign said would ensure that all polluters pay for every ton of emissions released.

..."The market will set the price, but unlike the other cap-and-trade proposals that have been offered in this race, no business will be allowed to emit any greenhouses gases for free," Obama said. "Businesses don't own the sky, the public does, and if we want them to stop polluting it, we have to put a price on all pollution."

...

Obama's plan would also spend $150 billion over 10 years on the development of climate-friendly supplies and technologies and sets a goal of reducing overall oil consumption by 35%, or 10 million barrels, by 2030. It also calls on the United States to lead a new international partnership to combat global warming.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: capandtrade; carbontrading; globalscam; globalwarming; regulate; tax; taxandregulate

1 posted on 10/09/2007 12:28:25 PM PDT by Shermy
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To: xcamel; calcowgirl; NormsRevenge

Carbon credit fraud bump!


2 posted on 10/09/2007 12:29:50 PM PDT by Shermy
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To: Shermy

Ah, Obama the Empty Suit is now pushing the modern day equivalent of “indulgences” of the old Catholic Church.


3 posted on 10/09/2007 12:31:30 PM PDT by KC_Conspirator
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To: Shermy
Cutting CO2 emmisions might result in a reduction in temperature of a small fraction of a degree (.1 to .18 degrees celcius) averaged over the next century but it will cost trillions. Not really worth it.
http://www.foxnews.com/story/0,2933,299419,00.html
4 posted on 10/09/2007 12:36:27 PM PDT by Dan Evans
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To: KC_Conspirator
"Businesses don't own the sky, the public does Wall Street finance companies should, and if we want them to stop polluting it, we have to bring billions of dollars of profits to traders who will take part of the skim and kick it back to Democratic party coffers in a system already proven to fail in Europe.

That's more accurate..

5 posted on 10/09/2007 12:36:52 PM PDT by Shermy
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To: Shermy

A cap-and-trade program: ‘A hide the wiener program’


6 posted on 10/09/2007 12:36:57 PM PDT by TRY ONE (NUKE the unborn gay whales!)
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To: Shermy

So...the era of big government is just getting started.


7 posted on 10/09/2007 12:47:45 PM PDT by BenLurkin
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To: Shermy

I was thinking that Gore, said we had only 10 years more.. till we were all doomed... so why worry about the next 50 years...


8 posted on 10/09/2007 12:52:18 PM PDT by JoanneSD (Illegals represented without taxation.. Citizens taxed without representation)
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To: Shermy
Obama calls for cap-and-trade program (carbon credits)

Who cares. Talk the real issues, Obama. Nobody pays attention to this crap anyway.

9 posted on 10/09/2007 12:57:27 PM PDT by jdm
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To: Shermy

see:
http://www.freerepublic.com/focus/f-news/1908695/posts


10 posted on 10/09/2007 12:57:29 PM PDT by xcamel (FDT/2008)
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To: Shermy

Obama wants the Earth to freeze!


11 posted on 10/09/2007 1:08:54 PM PDT by gunservative
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To: Shermy

Why is it that every “solution” to global warming involves a socialist wealth transfer?

Because “globull warming” is simply a way to implement socialism.


12 posted on 10/09/2007 1:10:15 PM PDT by MrB (You can't reason people out of a position that they didn't use reason to get into in the first place)
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To: Shermy
what's he going to do about China?....they emit more than we do and are building more and more coal fired plants......

and if we wait til 2050 to get off oil, we'll be attending the local Mosque.....

13 posted on 10/09/2007 1:13:09 PM PDT by cherry
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To: gunservative

Take a look at the chart here:
http://www.scotese.com/climate.htm

it seems that the earth has been a LOT hotter many times in its history, before any SUVs were invented.


14 posted on 10/09/2007 1:13:38 PM PDT by MrB (You can't reason people out of a position that they didn't use reason to get into in the first place)
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To: cherry

oh, the countries that are already communist will get a break. The goal is to make EVERY country communist, and finally to put the world under one economic controlling authority.


15 posted on 10/09/2007 1:14:36 PM PDT by MrB (You can't reason people out of a position that they didn't use reason to get into in the first place)
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To: Shermy

Can somebody please point me to the “opposition party” for all this nonsense?


16 posted on 10/09/2007 1:48:29 PM PDT by calcowgirl ("Liberalism is just Communism sold by the drink." P. J. O'Rourke)
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To: Beowulf

GW ping


17 posted on 10/09/2007 3:26:07 PM PDT by steelyourfaith
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To: potlatch; PhilDragoo; ntnychik; MeekOneGOP


18 posted on 10/09/2007 4:35:14 PM PDT by devolve (---- -Secret_Asian_Man_&_Dr.No-No_Sorass_-)
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To: Shermy

Obama is as full of crap as a Christmas turkey!!!!!!

The only one who believes him fully is Oprah, and I think she is going to regret doing so.


19 posted on 10/09/2007 4:49:51 PM PDT by ridesthemiles
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To: devolve

Lol, I saved a BS credit just in case I ever need it...!

Gore must drink Green Tea, forgot that when I made my Gore -tea gif.


20 posted on 10/09/2007 4:54:37 PM PDT by potlatch (MIZARU_ooo_()_ooo_MIKAZARU_ooo_()_ooo_MAZARU_ooo_()_ooo_))
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To: potlatch

.

The BS Offset Credits can come in handy

Drop one on a thread like a grenade and run


21 posted on 10/09/2007 6:22:37 PM PDT by devolve (---- -Secret_Asian_Man_&_Dr.No-No_Sorass_-)
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To: devolve

[Drop one on a thread like a grenade and run]

HEH!!


22 posted on 10/09/2007 6:29:45 PM PDT by potlatch (MIZARU_ooo_()_ooo_MIKAZARU_ooo_()_ooo_MAZARU_ooo_()_ooo_))
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To: Shermy; Killing Time; Beowulf; Mr. Peabody; RW_Whacko; honolulugal; SideoutFred; Ole Okie; ...

23 posted on 10/11/2007 10:11:20 AM PDT by xcamel (FDT/2008)
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