I think it is absolutely…

I think it is absolutely horrible to consider cancelling the Cap and Trade program without a new program in place to replace it. North America and Western Europe have put most of the C02 into the atmosphere over the last century and since we have created this problem I really think that we have a moral obligation to do our part to reduce the CO2 that we release. The wealthy developed regions of the world need to invest to lower the costs of renewable energy technologies so that the developing countries of the world will be able to use these technologies to build their energy infrastructures.

I am pleased that there is at least the mention of preparing a climate change plan. Economists have different views on whether a cap and trade plan or a carbon tax is more effective. I personally love the idea of a carbon tax where all of the proceeds are distributed back to the taxpayers (as the Green Party has proposed). It would be revenue neutral. Wealthy people, who tend to consume more, would have to pay a little more, the average person would not be affected and lower income people would likely come out ahead. And everyone would have an incentive to consume less.