Obama calls for economy-wide carbon cap
President Barack Obama has indicated that the administration will work with Congress on cap-and-trade legislation in an effort to increase US energy independence.
The president has proposed an economy-wide emissions reduction programme to reduce greenhouse gas emissions by approximately 14% below 2005 levels by 2020, and approximately 83% below 2005 levels by 2050. The programme will use a cap-and-trade system with a 100% auction "to ensure the biggest polluters do not enjoy windfall profits".
Detailing his budget plans on Thursday for the 2010 fiscal year
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