Legislation by 2008 Presidential Candidates: establishing greenhouse gas tradeable allowances
Source: Climate Stewardship Act (S.342/H.R.759)
OFFICIAL CONGRESSIONAL SUMMARY: A bill to provide for a program of scientific research on abrupt climate change, to accelerate the reduction of greenhouse gas emissions in the US by establishing a market-driven system of greenhouse gas tradeable allowances, to limit greenhouse gas emissions in the US and reduce dependence upon foreign oil, and ensure benefits to consumers from the trading in such allowances.
SPONSOR'S INTRODUCTORY REMARKS: Sen. McCAIN: This bill is designed to begin a meaningful and shared effort among the emission-producing sectors of our country to address the world's greatest environmental challenge--climate change.
The National Academy of Sciences reported, "temperatures are, in fact, rising." The overwhelming body of scientific evidence shows that climate change is real, that it is happening as we speak.
Terrible things are happening at the poles, which will have global implications. Amplified global warming, rising sea levels,
and potential alterations in ocean circulation patterns are among the global concerns.
The International Climate Change Task Force recommended that "all developed countries introduce mandatory cap-and-trade systems for carbon emissions and construct them to allow for future integration into a single global market." That is already being done in Europe as we speak, which is the substance of this legislation.
If we do not move on this issue, our children and grandchildren are going to pay an incredibly heavy price because this crisis is upon us, only we do not see its visible aspects in all of its enormity. We have done relatively nothing besides gather additional data and make reports. That is what the US national policy is today: gather information and make reports. I would argue that is a pretty heavy burden to lay on future generations of Americans.
LEGISLATIVE OUTCOME:Referred to Senate Committee on Environment and Public Works; never came to a vote.