Monday, October 8, 2007

Barack's Big Plan

Democratic candidate Barack Obama unveiled Energy Policy. If elected, he plans to spend $150 billion over 10 years on a push to develop new renewable fuel and clean coal technology, reduce greenhouse gases that fuel global warming and tax those who pollute on a per-ton of carbon basis. 80% below 1990 levels by 2050 — a goal that exceeds the European Union’s. He proposed a modified ''cap and trade'' approach to reduce emissions, requiring businesses to buy allowances if they pollute, creating an incentive to reduce energy usage. ''No business will be allowed to emit any greenhouse gases for free,'' he 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.''A very aggressive goal.

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