In his economic address today, President Obama emphasized how our economic foundation must be rebuilt using the power of “the renewable energy that can create millions of new jobs and new industries,” in part becase “the country that harnesses this energy will lead the 21st century.” He went on to explain that closing the “carbon pollution loophole” through a “market-based cap on carbon pollution” is critical to a green economy:
But the only way to truly spark this transformation is through a gradual, market-based cap on carbon pollution, so that clean energy is the profitable kind of energy. Some have argued that we shouldn’t attempt such a transition until the economy recovers, and they are right that we have to take the costs of transition into account. But we can no longer delay putting a framework for a clean energy economy in place. If businesses and entrepreneurs know today that we are closing this carbon pollution loophole, they will start investing in clean energy now. And pretty soon, we’ll see more companies constructing solar panels, and workers building wind turbines, and car companies manufacturing fuel-efficient cars. Investors will put some money into a new energy technology, and a small business will open to start selling it. That’s how we can grow this economy, enhance our security, and protect our planet at the same time.
The We Campaign is asking Americans to join President Obama’s call to close the carbon loophole and repower America:
The Repower America petition tells Congress to “support bold national policies this year to transition to a clean energy economy and help solve the climate crisis. We urge you to cap carbon pollution to help create the jobs and businesses that will Repower America.”
At Climate Progress, Joe Romm writes:
Once again the President showed that he understands what the pundits don’t — the country has no sustainable future without strong action on energy and climate.