Skip to comments.Obama calls for cap-and-trade program (carbon credits)
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 ...
Carbon credit fraud bump!
Ah, Obama the Empty Suit is now pushing the modern day equivalent of “indulgences” of the old Catholic Church.
That's more accurate..
A cap-and-trade program: ‘A hide the wiener program’
So...the era of big government is just getting started.
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...
Who cares. Talk the real issues, Obama. Nobody pays attention to this crap anyway.
Obama wants the Earth to freeze!
Why is it that every “solution” to global warming involves a socialist wealth transfer?
Because “globull warming” is simply a way to implement socialism.
and if we wait til 2050 to get off oil, we'll be attending the local Mosque.....
Take a look at the chart here:
it seems that the earth has been a LOT hotter many times in its history, before any SUVs were invented.
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.
Can somebody please point me to the “opposition party” for all this nonsense?
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.
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.