The Congress and the new president face challenges like none other: a fragile economy, insecure energy supplies, and the threat from climate change. These issues are intricately interrelated and can’t be solved individually. With the right approach, America can move forward to economic growth, and a better, more secure future.
Experts agree that a carbon cap is the best way to address the energy crisis. It limits greenhouse gas emissions. A carbon cap, or a limit on greenhouse gas pollution, solved America’s acid-rain problem in the 1990s. It can also be used today to reduce our dependence upon foreign oil.
Companies are required to pay for carbon emissions. A cap makes it clear that companies must pay. The less they emit the more they pay. It is therefore in the best interest of the company to invest in other fuels and technologies. Entrepreneurs will be motivated to find alternative energy sources that will grow a green, thriving economy by these profitable investments.
Instead of sending almost 3 percent of our gross national product abroad to oil-rich, often hostile countries, it can now be invested in new manufacturing jobs here at home that will strengthen America’s economy.
The carbon cap will create millions of jobs across all sectors of the economy, including steel production and clean energy product development. For example, wind turbines are made up of more than 8,000 components. A small wind project requires at least 4,466 ton of steel, 609 ton of composite fiberglass, and 12,470 tonnes concrete.
America would be able to compete with European and Chinese counterparts by creating new jobs thanks to carbon cap legislation. It is similar in our lead in space race and the Internet revolution.
Although a carbon cap might boost our economy, failure to enact climate change legislation would jeopardize America’s future economic growth. Climate change can lead to droughts, more severe storms, and higher sea levels. All of these effects can have a significant impact on the economy. Insurance, banking, real-estate, agriculture, tourism and other businesses are among the most affected. All of these factors will have a significant impact on the American heartland.
Ask your Senators and Representatives for support of climate-change legislation as the new Congress begins to settle in after the New Years.
Contact the Environmental Defense Action Fund for more information www.edf.org.
