Obama Calls for Cap-and-Trade


Senator Barack Obama proposed on Monday a plan to decrease the United States' dependence on foreign oil―while fighting climate change―by creating an auction system that will require power companies and other polluting industries to pay for their emissions. In a speech in New Hampshire, Obama said that this plan would slash emissions to 1990 levels by 2020.

The Democratic presidential candidate from Illinois called for a mandatory national cap on carbon emissions, as well as an investment of $150 billion over 10 years to develop new energy resources, in order to reduce the country's appetite for foreign oil by 35 percent by 2030.

"No business will be allowed to emit any greenhouse gases for free," Obama said in Portsmouth, N.H, according to The New York Times. "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." ::The New York Times

[Via ::Environmental Leader]

Related Content on Treehugger.com