Yes, He Did Say Carbon Cap
If you were listening to President Obama’s speech before congress and the American people you may have missed it, but he did call for a carbon cap.
- “To truly transform our economy, protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy,” Obama told lawmakers in last night’s speech to Congress.
- “So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America.”
It’s important to note that he did not say what the cap would be, how soon it should start and who would be affected. Rather he set the goal of answering these question in the years ahead.
My conclusion is that i don’t expect any legislation to pass before winter/spring 2010. The markets seem to agree, the price of Offsets on the CCX rose just 2.5% today in reaction to the presidents speech. If you want to change the world, don’t wait for washington, reduce, upgrade or offset to reduce your CO2 footprint.
Tags: Obama Carbon Cap, Obama's carbon cap proposal, US Carbon Cap