INFOTERRA: Op Ed: Legislating US Innovation To Ease Global Warming
http://www.latimes.com/news/opinion/commentary/la-oe-lieber8jan08,0,1695094.story?coll=la%2Dnews%2Dcomment%2Dopinions
Los Angeles Times:
January 8, 2003
COMMENTARY
Tap U.S. Innovation to Ease Global Warming
Legislation aims to cap emissions and use market forces.
By Joseph I. Lieberman and John McCain
Global warming is a serious threat. There is overwhelming evidence that
increasing amounts of carbon dioxide and other greenhouse gases are
heating up the Earth's climate and that inaction could be disastrous.
One way to limit the release of greenhouse gases is a simple but powerful
idea called "cap and trade," which is at the core of a bill we are
introducing in the Senate.
Past strategies have failed because of the belief -- and, sometimes, the
reality -- that they would weigh down American businesses with costly and
complicated new mandates.
Our proposal harnesses the genius of American enterprise by creating a
market for companies that emit the greenhouse gases to compete to clean up
our air. The bill would cap the country's overall emissions and allow
individual companies to find the most innovative and cost-effective ways
to reduce their greenhouse gases. Under this system, companies would also
be able to trade pollution credits with each other.
Our plan -- modeled after the successful acid rain trading program of the
1990 Clean Air Act -- would return to 2000 carbon dioxide emission levels
by 2010. Every decade would bring more progress. The plan gives American
businesses extensive flexibility in tackling the problem as long as they
tackle the problem.
The "cap and trade" system is a constructive, business-friendly approach
to countering global warming. Ignoring global warming threatens our
environment, our economy and our international credibility.
First, our environmental health. Glaciers are melting, coral reefs are
dying and ocean temperatures are rising. Just last week, two major new
research studies said global warming was already posing a dire threat to
the world's plants and animals. Last month, the National Oceanic and
Atmospheric Administration reported that 2002's average global temperature
will probably be the second warmest on record. The 10 warmest years have
all occurred since 1987, with nine of them since 1990.
Second, our economic vitality. Businesses now receive a confusing set of
messages about this problem from the federal government. They know that
with climate change worsening every year, the government will at some
point have to require them to reduce their emissions. However, businesses
are being left in the lurch about Washington's global warming policy plans
and, therefore, have a perverse short-term incentive to put off any
long-term technology investments.
The innovation community in the United States is eager to participate but,
because of government inaction, is unable to fully do so. The European
Union and Japan already have a head start in the pollution reduction
industry.
Third, our international credibility. The U.S. produces about a quarter of
the world's greenhouse gases but has shown an unwillingness to produce any
of the world's climate-change solutions. That is compromising our
international stature and relationships with our most important allies
when we need them the most.
We should never compromise critical U.S. policy simply to satisfy the
international community. But in this case, doing what will earn respect
and support around the world is also in our own best environmental and
economic interests and is the right thing to do.
Even if, despite all the evidence, one chooses to remain a skeptic on
climate change, taking action today -- as an insurance policy -- is the
only wise course of action. As the mercury rises, so does the need for a
creative solution. We're offering one.
*
Joseph I. Lieberman (D-Conn.) is a member of the Senate Environment and
Public Works Committee; John McCain (R-Ariz.) is a member of the Senate
Commerce Committee.
* * *
Copyright 2003 Los Angeles Times
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