U.S. Must Develop a Responsible Climate Policy of its Own
Participation in the Copenhagen talks is important. It is also important that the United States continue moving forward on its own climate policy. Until our country takes action, it is difficult for the United States to help shape global policy.
We at Dominion continue to support federal climate legislation that ratchets down greenhouse gas emissions in a way that protects American consumers and industry. It makes no sense to have a policy that is so costly that it merely shifts jobs and production to another part of the globe where the resulting emissions may actually be higher. That's a lose-lose scenario.
The Waxman-Markey bill that passed the House is a good foundation. It provides for real reductions in greenhouse gas emissions while helping to protect consumers and businesses from extraordinary spikes in energy costs.
Waxman-Markey still needs some work. For example, the carbon dioxide reduction targets need to be made achievable. A law that sets people up for failure is not a good law. The phase-out of free allocations needs to be extended to help protect consumers until cost-effective technology can be put in place.
Once the United States has its own house in order, we will be in a much better position to influence others to develop equitable and effective multi-lateral agreements. We believe it can be done in a way that protects the planet and fosters economic growth.
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