This is the second installment in my personal comparison of the environmental platforms of John McCain and Barack Obama. Both candidates, to a large extent, combine their plans for the environment with their energy plans, and thus I will discuss their plans for reducing US greenhouse gas emissions by industry. Both McCain and Obama support a cap-and-trade policy to reduce greenhouse gas emissions, and both favor heavy investment in research and commercialization of alternate energy and transportation options. The major differences between the overarching energy plans are thus the actual ‘caps’, or the greenhouse gas emission limits, and whether the pollution allowances for businesses will be initially auctioned or allotted.
John McCain sets out a timetable for greenhouse gas emissions, with a target of 60 percent below 1990 levels by 2050. Barack Obama wants an 80 percent reduction from 1990 levels by 2050, but unlike McCain, he does not specify targets along the way. McCain plans originally to “allot” total permits equal to the greenhouse gas emissions cap, and market participants (McCain specifies electric power, transportation fuels, commercial business, and industrial business) would either hae to reduce their emissions to reach their allowable emissions, or purchae offsets for cash to cover 100% of their required reductions. McCain adds, further down the webpage, “Emissions Permits Will Eventually Be Auctioned To Support The Development Of Advanced Technologies.” Obama requires pollution permits to be auctioned. He also plans to spend some of the revenues on the development of clean energy, investing in energy efficiency improvements, and to address transition costs.
Neither candidate addresses how emissions will be monitored and regulated. I imagine enforcement of this will be expensive…I, for one, would like more detail on that.
Both candidates emphasize the need to heavily promote alternative energy research, as well as streamlining the move from R&D to the marketplace for green technology. Both candidates acknowledge that low-income families might be more affected as these transitions take place, and plan to reduce those impacts (Obama specifies that that would include job-training; McCain does not give details). Both candidates envision America leading the global market in alternative energy technology.
Wow, I just discovered that there is a little ‘presentation’ on the McCain website that has a little cartoon-ish example of how market-based system to curb greenhouse gas emissions works. It is complete with two ‘thermometers,’ one for carbon emissions and one for American jobs. As McCain’s plan plays out, carbon emissions go down and American jobs go up! But it still doesn’t give more details. Obama’s website does not have thermometers, although really I was originally just looking for actual written statements of positions.
Anyway, except for the 20% difference in greenhouse gas emission reduction goals by 2050 (when neither will be in office, anyway) and the delayed auction of emission allowances by McCain, both candidates seem to grasp the necessity of drastic change in our emissions. Both realize that America needs an input of R&D money to take the lead on clean energy technology. There are a lot more details to the energy policies and environmental policies, but on this major part of the issue the candidates both show a refreshing perspective compared to the current administration. Hopefully both of them are sincere.