How Does Bush Feel About “Cap and Trade” Legislation?

Up until last month, President Bush had been seen as strongly opposed to any “cap and trade” legislation. But a recent CNN article reports that he may be shifting his stance on global warming and what he and his Administration are willing to do about it. In a speech he gave in early April, he

proposed a new target…for stopping the growth of the nation’s greenhouse gas emissions by 2025. The president also called for putting the brakes on greenhouse gas emissions from electric power plants within 10 to 15 years.

“To reach our 2025 goal, we will need to more rapidly slow the growth of power sector greenhouse gas emissions so that they peak within 10 to 15 years and decline thereafter.”

That’s good to hear, but the president still isn’t crazy about bills like the Climate Security Act, which would place mandatory caps on emissions from facilities that emit more than 10,000 CO₂-equivalents of greenhouse gas in any year. The Environmental Defense Fund reports that these covered facilities are responsible for about 75 percent of U.S. greenhouse gas emissions. According to CNN, this is what Bush has to say about that,

“I believe that congressional debate should be guided by certain core principles and a clear appreciation that there is a wrong way and a right way to approach reducing greenhouse gas emissions,” Bush said. “Bad legislation would impose tremendous costs on our economy and American families without accomplishing the important climate change goals we share.”

How do you feel about cap and trade legislation? Is it the right way to address greenhouse gas emissions? The Climate Security Act is scheduled to be considered by the full Senate in early June. Are you in favor of its passage?

Image: Newscom