Hillary Clinton's climate and energy plan
The full text of Clinton's plan
Posted by David Roberts at 9:36 AM on 05 Nov 2007
Here is Hillary Clinton's comprehensive new climate and energy plan, just introduced:
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Powering America's Future: Hillary Clinton's Plan to Address the Energy and Climate Crisis
Hillary understands that we face two immense energy and environmental challenges: a growing climate crisis, and an increasing reliance on foreign oil that is driving up energy costs for Americans. She also knows that Americans have always demonstrated the will and the ingenuity to confront the problems of their times, from the New Deal, to the Cold War, to the Space Race. Today, global warming and dependence on foreign oil are two of the biggest challenges of our time, and as President, Hillary will set three big goals to meet them:
- Reduce greenhouse gas emissions 80% from 1990 levels by 2050 -- the level necessary to avoid the worst impacts of global warming.
- Cut foreign oil imports by two-thirds from projected levels by 2030.
- Transform our carbon-based economy into an efficient green economy, creating at least 5 million jobs from clean energy over the next decade.
Hillary Clinton's plan to promote energy independence, address global warming, and transform our economy includes:
- A new cap-and-trade program that auctions 100% of permits alongside investments to move us on the path towards energy independence;
- An aggressive, comprehensive energy efficiency agenda to reduce electricity consumption 20% from projected levels by 2020 by changing the way utilities do business, catalyzing a green building industry, enacting strict appliance efficiency standards, and phasing out incandescent light bulbs;
- A $50 billion Strategic Energy Fund, paid for in part by oil companies, to fund investments in alternative energy. The SEF will finance one-third of the $150 billon ten-year investment in a new energy future contained in this plan;
- Doubling of federal investment in basic energy research, including funding for an ARPA-E, a new research agency modeled on the successful Defense Advanced Research Projects Agency
- Aggressive action to transition our economy toward renewable energy sources, with renewables generating 25% of electricity by 2030 and with 60 billion gallons of home-grown biofuels available for cars and trucks by 2030;
- 10 "Smart Grid City" partnerships to prove the advanced capabilities of smart grid and other advanced demand-reduction technologies, as well as new investment in plug-in hybrid vehicle technologies;
- An increase in fuel efficiency standards to 55 miles per gallon by 2030, and $20 billion of "Green Vehicle Bonds" to help U.S. automakers retool their plants to meet the standards;
- A plan to catalyze a thriving green building industry by investing in green collar jobs and helping to modernize and retrofit 20 million low-income homes to make them more energy efficient;
- A new "Connie Mae" program to make it easier for low and middle-income Americans to buy green homes and invest in green home improvements;
- A requirement that all publicly traded companies report financial risks due to climate change in annual reports filed with the Securities and Exchange Commission; and
- Creation of a "National Energy Council" within the White House to ensure implementation of the plan across the Executive Branch.
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