“Yes, it means passing a comprehensive energy and climate bill with incentives that will finally make clean energy the profitable kind of energy in America.”
— President Barack Obama State of the Union address, Jan. 27
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Weeks of speculation about the president’s commitment to an energy-climate bill ended with the above words.
Next up: weeks of speculation about whether this was a wise decision.
Not acting now may appeal to some, but several problems grow only more expensive, complicated and politically challenging if we delay until, say, 2012:
Power companies and businesses need to know the regulatory rules of the road before unleashing millions of investment dollars. The current uncertainty inhibits investment today, as well as the jobs that would go with the investment. In particular, it inhibits investment in critical clean energy technologies such as carbon capture and storage and nuclear power.
China is investing heavily in clean energy, taking the lead in the booming global market for these technologies. American ingenuity is second to none; but every year the United States delays in putting a price on carbon pollution, we fall further behind in this race and lose future jobs.
The United States continues to depend on oil from countries that do not have our best interests at heart. Until we reward low-emitting transportation fuels and methods, this dependency is expected to grow.
Countries whose support we need to achieve our international objectives — including fighting terrorism and ensuring economic growth — are dismayed that the United States has sat out the climate issue for so many years. In Copenhagen, thankfully, we showed leadership, and, in turn, other nations made clear their intent to contribute to global efforts. If we do not now take steps to reduce our pollution, other countries may be more reluctant to ally with us on our other objectives.
The states, courts and regulatory agencies are beginning to address climate change, filling the vacuum left by congressional inaction. What is needed, however, is the comprehensive policy that only Congress can produce.
Recently, businesses, labor unions, national security organizations and faith-based groups came together to call for sensible energy-climate legislation because they understand that a reasonable policy this year can boost the economy, create jobs, promote security and protect our Earth for future generations.