Obama Proposes Cap and Trade

By Daniel Harper, Weekly Standard

cap-n-trade-i2670In his State of the Union Address this evening, President Barack Obama will encourage Congress to adapt a cap and trade plan to deal with climate change. Energy, climate, and taxes are a sizable portion of Obama’s speech.
ObamaRobe

“For the sake of our children and our future, we must do more to combat climate change. Yes, it’s true that no single event makes a trend. But the fact is, the 12 hottest years on record have all come in the last 15. Heat waves, droughts, wildfires, and floods – all are now more frequent and intense. We can choose to believe that Superstorm Sandy, and the most severe drought in decades, and the worst wildfires some states have ever seen were all just a freak coincidence. Or we can choose to believe in the overwhelming judgment of science – and act before it’s too late,” Obama will say, according to prepared remarks, suggesting Hurricane Sandy was a result of “climate change.”

And while Obama doesn’t label it “cap and trade,” he describes the program: “The good news is, we can make meaningful progress on this issue while driving strong economic growth. I urge this Congress to pursue a bipartisan, market-based solution to climate change, like the one John McCain and Joe Lieberman worked on together a few years ago. But if Congress won’t act soon to protect future generations, I will. I will direct my Cabinet to come up with executive actions we can take, now and in the future, to reduce pollution, prepare our communities for the consequences of climate change, and speed the transition to more sustainable sources of energy.