Next Gen Journal

By Connor Toohill and John Todd

On Friday, June 26,  the House of Representatives passed the American Clean Energy and Security Act in an effort to curb the impact of climate change while moving towards energy independence. The bill contains a provision called “cap and trade” (described alternatively by Republicans as “cap and tax”), in which limits are placed on the overall output of greenhouse gases (“the cap”) and then allowances for limited amounts of greenhouse gas emissions are bought and sold in an open marketplace (the “trade”). The bill also contained many other provisions, including investments in a variety of clean energy programs and requirements that more energy come from renewable sources.

Cost is a major concern (Public Domain)

The bill is very popular with some coastal Democrats; liberals and moderates in the more coal-dependent Midwest are somewhat less enthusiastic, while some environmental advocates complain that the bill does not go far enough. Meanwhile, many conservatives denounce the program as bad for business and  job creation, while the Congressional Budget Office estimates that the bill will cause additional annual costs averaging $175 per household by 2020. The Bill is far-reaching, but as it heads  to the United States Senate, the cap-and-trade program will certainly be its most-debated  aspect. So here’s the question:

Is a cap and trade program the right solution to address climate change and our dependence on foreign oil?