McCain urges free-market solution on warming
By GLEN JOHNSON
Associated Press
May 13, 2008
Page 2 of 2
The main solution he outlined Monday is to implement a cap-and-trade program on carbon-fuel emissions, like a similar program in the Clean Air Act that was used to reduce sulfur dioxide emissions that triggered acid rain.
Industries would be given emission targets, and those coming in under their limit could sell their surplus polluting capacity to companies unable to meet their target.
McCain wants the country to return to 2005 emission levels by 2012; 1990 levels by 2020; and to a level 60 percent below that by 2050.
Internationally, McCain promised to challenge China and India, economic rivals who are fueling their challenge to U.S. market supremacy with heavily polluting fuels such as coal, gas and oil.
While the prepared text of his remarks had him promising to work with the European Union and other like-minded governments ''to develop a cost equalization mechanism to apply to those countries that decline to enact a similar cap,'' he changed up his remarks to the audience.
''I would work with the European Union and other like-minded governments that plan to address the global warming problem to develop effective diplomacy, effective transfer of technology or other means to engage those countries that decline to enact a similar cap,'' he said.
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