Hillary has come out with an energy and climate plan every bit as good as Obama’s plan (and indeed quite similar to it). The detailed 16-page plan is titled, “Powering America’s Future: Hillary Clinton’s Plan to Address the Energy and Climate Crisis.”
Centered on a cap and trade system for carbon emissions, stronger energy and auto efficiency standards and a significant increase in green research funding…. the plan would reduce greenhouse gas emissions by 80 percent from 1990 levels by 2050 to avoid the worst effects of global warming, and cut foreign oil imports by two-thirds from 2030 projected levels, more than 10 million barrels per day….
Hillary would increase fuel efficiency standards to 55 miles per gallon by 2030, but would help automakers retool their production facilities through $20 billion in “Green Vehicle Bonds.”
- A new cap-and-trade program that auctions 100 percent of permits alongside investments to move us on the path towards energy independence;
- An aggressive comprehensive energy efficiency agenda to reduce electricity consumption 20 percent from projected levels by 2020 by changing the way utilities do business, catalyzing a green building industry, enacting strict appliance efficiency standards, and phasing out incandescent light bulbs;
- A $50 billion Strategic Energy Fund, paid for in part by oil companies, to fund investments in alternative energy. The SEF will finance one-third of the $150 billon ten-year investment in a new energy future contained in this plan;
- Doubling of federal investment in basic energy research, including funding for an ARPA-E, a new research agency modeled on the successful Defense Advanced Research Projects Agency
- Aggressive action to transition our economy toward renewable energy sources, with renewables generating 25 percent of electricity by 2030 and with 60 billion gallons of home-grown biofuels available for cars and trucks by 2030;
- 10 “Smart Grid City” partnerships to prove the advanced capabilities of smart grid and other advanced demand-reduction technologies, as well as new investment in plug-in hybrid vehicle technologies;
- An increase in fuel efficiency standards to 55 miles per gallon by 2030, and $20 billion of “Green Vehicle Bonds” to help U.S. automakers retool their plants to meet the standards;
- A plan to catalyze a thriving green building industry by investing in green collar jobs and helping to modernize and retrofit 20 million low-income homes to make them more energy efficient;
- A new “Connie Mae” program to make it easier for low and middle-income Americans to buy green homes and invest in green home improvements;
- A requirement that all publicly traded companies report financial risks due to climate change in annual reports filed with the Securities and Exchange Commission; and
- Creation of a “National Energy Council” within the White House to ensure implementation of the plan across the Executive Branch.
- A requirement that all federal buildings designed after January 20, 2009 will be zero emissions buildings.
Kudos to Hillary and her staff — they have put forward an excellent plan.