Obama outlines energy and environment plan
— -- The United States would invest $150 billion and adopt strict pollution caps aimed at curbing carbon emissions by 80% under an energy and environment plan outlined Monday by Democratic presidential candidate Barack Obama.
"I'm confident that as we make these adjustments, technology will catch up and over time, you will actually see net benefits and savings for the economy as a whole and for U.S. consumers," Obama said in an interview with The Des Moines Register after releasing the proposal in New Hampshire.
Obama acknowledged in New Hampshire that "there is no doubt " that his plan "will be costly in the short term." He vowed to provide assistance to poor families who may struggle with changes.
Long-term, however, he said his plan would foster economic growth and job creation and lead the United States toward energy independence.
Obama unveiled the plan Monday at the University of New Hampshire. Earlier this year, he outlined goals in Detroit, Mich., that would require improved energy efficiency for vehicles made in the United States.
Like other top Democratic presidential candidates, Obama would create a "cap-and-trade" program. Such a program would divide pollution allowances among U.S. manufacturers and allow companies to sell or buy extra allowances on the open market. His plan aims to reduce carbon emissions by 80% by 2050.
The $150 billion investment would be made during a 10-year period and would largely come from revenue generated by the cap-and-trade program. The money would be used to help quickly commercialize energy-saving technologies so they are available to all Americans, according to a statement from the Obama campaign.
Other parts of the plan would phase out traditional, incandescent light bulbs in favor of energy-efficient bulbs by 2014, develop clean coal technology and create safer guidelines for using nuclear power.
Obama and his staff also used the speech in New Hampshire to attack New York Sen. Hillary Clinton.
Clinton, who highlighted her alternative energy plan in Cedar Rapids Monday, voted against several legislative proposals in 2005 that would have increased corporate fuel economy standards and required refineries to use 8 billion gallons of renewable fuels by 2012.
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