Cap and Trade Legislation

The Obama administration and the Democratic party are attemtping to enact the most massive climate change bill in history. The new legislation is seeking to fundamentally alter the environmental policy landscape like never before. According to the bill, "a cap and trade system that would curb carbon emissions 20% by 2020 and a renewal energy standard that would require a certain amount of alternative energy be used every year. " The legislation has created negative feedback for many buisnesses as they would be forced to pay for their carbon emissions. Other critics claim this could lead to job losses and a slower transition to clean energy as well. Here is the outlook of each sides stance according to the article: "Democrats are in support of stonger legislation; Republicans are against the bill; Companies want to ensure that proper credits are not auctioned off; and others want to make sure their specific goals are not impacted".

I believe a cap and trade system would be an effective way to manage carbon output; however, I am not sure about the economic impacts. Its easy for companies to support this because it can cost money but more would be done to ensure that jobs are not lost. I feel some sort of system would be effective, though.