With the Democratic National Committee convention in Denver last week, NuEnergen executives were able to attend various policy meetings regarding the Democratic plan for energy. Titled BARACK OBAMA: NEW ENERGY FOR AMERICA, the Democratic plan encompasses short, medium and long range solutions the administration wants to put forth for our growing list of issues. NuEnergen was pleased to see that there was a big focus on Climate Change. The following is an excerpt from his proposed energy policy on Climate Change;
- Make the U.S. a Leader on Climate Change
- Barack Obama understands that the only real solution to climate change requires all major emitting nations to join in the solution. While it is time for America to lead, developing nations like China and Brazil must not be far behind in making their own binding commitments. To develop an effective and equitable global program, Obama will re-engage with the U.N. Framework Convention on Climate Change (UNFCC) - the main international forum dedicated to addressing the climate problem. He will also invigorate the Major Economies (MEM) effort and bring all major emitting nations together to develop effective emissions reduction efforts.
- Barack Obama understands that the only real solution to climate change requires all major emitting nations to join in the solution. While it is time for America to lead, developing nations like China and Brazil must not be far behind in making their own binding commitments. To develop an effective and equitable global program, Obama will re-engage with the U.N. Framework Convention on Climate Change (UNFCC) - the main international forum dedicated to addressing the climate problem. He will also invigorate the Major Economies (MEM) effort and bring all major emitting nations together to develop effective emissions reduction efforts.
- Implement Cap and Trade Program to Reduce Greenhouse Gas Emission
- Barack Obama supports the implementation of an economy-wide cap-and-trade system to reduce carbon emissions by the amount scientists say is necessary: 80% below 1990 levels by 2050. This market mechanism has worked before and will give all American consumers and businesses the incentives to use their ingenuity to develop economically effective solutions to climate change. Obama’s cap-and-trade policy will require all pollution credits to be auctioned. A 100 percent auction ensures that all industries pay for every ton of emissions they release, rather than giving these valuable emissions rights away to companies on the basis of their past pollution. A small portion of the receipts generated by auctioning allowances ($15 billion per year) will be used to support the development of clean energy, invest in energy efficiency improvements, and help the economy meet emissions reduction targets.
The policy statement covered a number of issues ranging from Dependency on Foreign Oil, Investing in a Clean Energy Economy, Energy Rebates for Efficiency Projects, Mileage Standards for Cars, Trucks and SUVs, Electric Vehicles, Flex-Fuels, BioFuels and U.S, production of Oil & Gas.
Of additional note was Democratic party’s commitment to having 10% of our electricity coming from Renewable Sources by 2012. While some states are well on their way with an RPS (Renewable Portfolio Standard), a federal mandate seems likely with a Democratic administration.
