Obama And McCain's Green Dream

Fortune.com:

(Fortune Magazine) -- What senators McCain and Obama believe about U.S. energy policy matters - hugely. To fight global warming, the next President will oversee the transition to a new, green economy, which will result in one of the biggest business transformations of the 21st century and potentially one of the largest transfers of wealth since the creation of the income tax.

Both candidates agree that a carbon cap-and-trade law is the best way to make industries reduce their emissions of carbon dioxide and other greenhouse gases that cause climate change. Under such legislation, Washington puts a cap on carbon emissions that is lowered every year, and creates permits allowing industry to emit greenhouse gases just up to those limits. McCain favors reducing America's carbon dioxide output to 60% of the 1990 level by 2050, whereas Obama sets his target at 80%.

Read the whole story: Fortune.com

Comments

[mamacat]

It bears repeating:
Recently, a bill failed to pass the Senate, by one vote (only 59 out of 100 voted for it) that would have taken away the tax subsidies and give-aways to big oil, and transferred them to alternative energy projects. If Sen. McCain had voted for the measure, it would have passed.

There is a big difference between talking "green", and actually doing anything about it. Sen. McCain has done a lot of talking, but I cannot think of a single time he has actually done anything in the energy sector or in the environmental sector other than make noise. Like the Republican before him, Bush, he likes to go in front of the cameras and talk about things, but he actually prevents things from getting done.

[research]

Thing is, McCain is lying, Obama maybe not.

[brighterside]

Yes I'm a little biased but Obama's plan is much better. It relies on entrepreneurs and innovators to come up with the best plan possible while the federal government helps to fund it. Ordinary people would be able to bid for funding for their programs while McCain's plan give oil companies tax breaks and more subsidies in hoping for them to lower prices and pass savings down to the consumer level.

Obama talked about seed funding and using venture capital as another way of jump starting the green industry. I thought that was interesting since I come from the high tech industry -- and that type of talk is usually reserved for startups and for those that have innovative and ingenius ideas. I like it. Especially to the tune of 150 billion for the next 10 years, I think alternative energy such as solar, wind, electric cars, etc. will finally have a chance to flourish if Obama is elected.