Climate Change Market
American Government
John McCain has a very strong opinion on the climate change in the U.S. today. He wants to establish a market on the green house gas emissions. Weill better the future so not much of a problem for our next generation. McCain believes the climate police should utilize a market-based cap and trade system. The climate policy must include mechanisms to minimize costs and work effectively with other markers. Also the climate policy must spur the development and deployment of advanced technology. The climate policy needs to be built on scientifically-sound mandatory emission reduction targets and timetables. Finally the climate policy must facilitate international efforts to solve the problem.
McCain wants a cap-and-trade system that would set limits on greenhouse gas emissions while encouraging the development of low-cost compliance options. The cap-and-trade would set limits on gas emissions and allow entities to buy and sell rights to emit, similar to the successful acid rain program of the early 90's. The best thing is that it allows the market to decide and encourage the lowest-cost compliance options. A cap-and-trade system harnesses human ingenuity in the pursuit of alternatives to carbon-based fuels. If they can invent, improve, or acquire a way to reduce their emissions, they can sell their extra permits for cash. The profit motive will coordinate the efforts of venture capitalists, corporate planners, entrepreneurs, and environmentalists on the common motive of reducing emissions.
John McCain will support the cap and trade system and will promise the innovation, development and deployment of advanced technologies. McCain will reform federal government funding and infrastructure to support the cap and trade emissions reduction goals and emphasize the commercialization of low-carbon technologies. McCain will streamline the process for deploying new technologies and requiring more accountability from government programs to meet commercialization goals and deadlines. He will ensure rapid technology introduction, quickly shifting research from the laboratory to the marketplace. John will employ the inherent incentives provided by a cap-and -trade system along with government-led competitions.
John McCain believes an effective and sustainable climate policy much also support rapid economic growth. He will use a portion of suction proceeds to reduce impacts on low-income American families. He plans will accomplish this in part by incorporating measures to mitigate any economic cost of meeting emission targets including:
- Trading emission permits to find the lowest-cost source of emission reductions.
- Permitting “banking” and “borrowing” of permits so that emission reductions mat be accelerated or deferred to more economically efficient periods
- Permitting unlimited initial offsets from both domestic and international sources
- Effectively integrating U.S. trading with other international markets, thereby providing access to low-cost permit sources
- Establishing a strategic carbon reserve as a national source of permits during periods of economic duress.
McCain believes that there must be a global solution to global climate change. McCain will engage the international community in a coordinated effort.
My opinion is agreeing with McCain, he has a great plan about the climate change in the U.S. He has many be good ideas on how to fix the climate. He is finding ways on how to slow down the greenhouse gas emission and being a great leader while doing it. He is also looking for a rapid and clean economic growth; he wants to make the low-income families feel like someone is working for them too. I think McCain has a great plan on trying to fix the climate change in the United States.
McCain, John. "Climate Change." John McCain - Climate Change. 2008. 19 Aug. 2008
<http://www.johnmccain.com/informing/issues/da151a1c-733a-4dc1-9cd3-f9ca5caba1de.htm>.
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