Obama Presents Cap and Trade Plan for Pollution

If elected, Democratic presidential candidate Barack Obama claims that by the year 2020, greenhouse gas emissions would be reduced to 80% below the levels in 1990. In a speech given in New Hampshire, Obama called for a national cap on carbon emissions; investing $150 billion over 10 years to develop new energy sources and reduce dependence on foreign oil. Under this "cap and trade" program, power plants and businesses that exceed their pollution caps must buy or trade for additional capacity. In theory, this system would reduce greenhouse gas emissions to the level recommended by top scientists. In his speech at the new energy efficient Portsmouth Public Library he states, "No business will be allowed to emit any greenhouse gases for free...Businesses don't own the sky, the public does, and if we want them to stop polluting it, we have to put a price on all pollution."