Green tech vs Drilling
The New Yorker is running an editorial on the US Presidential Race,The Choice, comparing the candidates on variety of issues. On the issue of global warming they had this to say:
On energy and global warming, Obama offers a set of forceful proposals. He supports a cap-and-trade program to reduce America’s carbon emissions by eighty per cent by 2050—an enormously ambitious goal, but one that many climate scientists say must be met if atmospheric carbon dioxide is to be kept below disastrous levels. Large emitters, like utilities, would acquire carbon allowances, and those which emit less carbon dioxide than their allotment could sell the resulting credits to those which emit more; over time, the available allowances would decline. Significantly, Obama wants to auction off the allowances; this would provide fifteen billion dollars a year for developing alternative-energy sources and creating job-training programs in green technologies. He also wants to raise federal fuel-economy standards and to require that ten per cent of America’s electricity be generated from renewable sources by 2012. Taken together, his proposals represent the most coherent and far-sighted strategy ever offered by a Presidential candidate for reducing the nation’s reliance on fossil fuels.
There was once reason to hope that McCain and Obama would have a sensible debate about energy and climate policy. McCain was one of the first Republicans in the Senate to support federal limits on carbon dioxide, and he has touted his own support for a less ambitious cap-and-trade program as evidence of his independence from the White House. But, as polls showed Americans growing jittery about gasoline prices, McCain apparently found it expedient in this area, too, to shift course. He took a dubious idea—lifting the federal moratorium on offshore oil drilling—and placed it at the very center of his campaign. Opening up America’s coastal waters to drilling would have no impact on gasoline prices in the short term, and, even over the long term, the effect, according to a recent analysis by the Department of Energy, would be “insignificant.” Such inconvenient facts, however, are waved away by a campaign that finally found its voice with the slogan “Drill, baby, drill!”
I think its obvious which way anyone in the carbon industry, or the green movement will vote. — DS
