Beyond Cap and Trade

According to a recent paper titled "Cap and Trade is Not Enough: Improving U.S. Climate Policy" (click on title for the link), the authors argue that the United States government needs to work faster and harder in solidifying long term legislation that will physically reduce carbon emissions in the future. Although we have yet to pass a mandatory cap and trade system in the US, the Obama administration is promising that such a trading platform will begin next year, in 2010. My colleagues were frustrated with this decision to hold off on a trading scheme, but the authors in this paper are not necessarily frustrated with this carbon cap postponement policy.

The authors of this paper move past the argument of cap and trade, and argue for a long term strategic plan of action in reducing carbon emissions. There are a number of different solutions that these authors suggest, and their prescriptions are focused on three main areas: electric power, building design and appliances, and automobiles. I agree with this paper for many reasons. We cannot solve the carbon emission crisis only by enforcing cap and trade. Although some cities, like NYC are taking their own initiative in retrofitting buildings, and making appliances and buildings more energy efficient, this is by no means a long term federal policy. These decisions can come and go with each President, governor, or mayor. This is the end of the era for the toothless tiger. We need some teeth in our policies.