Alarm bells louden

Previous progress towards instituting carbon emission caps in the US have been derailed by fears (voiced most prominently by the current administration) that such regulations would stifle the American economy. There has been progress, however, as exemplified by the bipartisan support for the Lieberman– Warner Climate Stewardship Act, which, while not reaching a full vote by the Senate this year, was the first carbon-cap legislation to be approved by the Senate Environment and Public Works Committee. In addition to outlining compulsory legislation to curb emissions, both candidates have pushed the development of clean coal technology, an important issue given that over half of US electric power is derived from coal-fired power plants. While McCain proposes to spend 2 billion dollars a year on developing clean coal, Obama hasn't disclosed specific numbers but has indicated a willingness to spend money on this area as part of a 150 billion dollar plan over 10 years to promote the development of alternative energy and existing domestic resources. This year, a new issue has come to the fore, one with relevance to both the economy and the environment — energy policy In addition to clean coal, both candidates would also encourage the development of new nuclear power plants through government subsidies, and, while Obama supports similar subsidies for solar, ethanol, and wind power, McCain's plan would rely solely on consumer tax credits to stimulate demand for these technologies. Overshadowing the ongoing debate on energy policy is the notion that the US is becoming increasingly dependent on foreign oil. This dependence, at least as portrayed by both candidates, is dangerous because the health of the economy hinges on potentially unstable nation states. In addition, the rising price of gasoline, influenced in part by increased demand in Asia, is particularly tangible to the average American voter who commutes 16 miles to work on average. The vast majority of imported oil flows into the US transportation network, so it is obvious that efforts will have to be directed towards this sector. Enter the electric car. Both candidates support investments in research and development and would encourage substantial tax rebates for purchases of electric vehicles. McCain has even gone so far as to propose a 300 million dollar prize to anyone that can develop a suitable battery at 30 per cent of the current cost. Where the two candidates appear to differ, however, is on the issue of …