In recent weeks you may have heard some debate about the best way to deal with climate change and how it may impact Ohio’s economy. As a sign of how important this debate is becoming, President Bush recently signed an energy reform bill that recognizes the need to reduce global warming pollution from cars and he proposed investments in clean technologies during his State of the Union address.
At the same time, businesses are coming up with solutions and contributing to the debate in Washington, in Congress, and around the country. Many of our leading corporations have come to the conclusion that we need to take stronger action.
Major Ohio employers such as Alcoa, Caterpillar, Deere & Co., DuPont, General Electric, Pepsi and even America’s automakers have joined the growing chorus calling for mandatory reductions in greenhouse gas emissions. Over 70,000 men and women in Ohio are employed by these corporations. These companies are asking Congress to enact a cap and trade system that relies on business innovation and the marketplace. The system sets a firm goal for reducing greenhouse gas emissions, frees companies to find the best way to meet it, and rewards those that can reduce emissions efficiently. It’s a plan that’s won the support on both sides of the aisle in Congress, including Senators John Warner (R-VA), Joe Lieberman (I-CT), and Elizabeth Dole (R-NC).
All of the scientific evidence shows that climate change legislation is necessary and inevitable, so if we reject a cap and trade system that leaves few options. We would be forced to pick between new energy taxes, increased regulations, or having government officials choose their favorite technologies to subsidize.
If we are serious about dealing with climate change the best solution is one that works for Ohio businesses and the environment, not one that has Washington decide who benefits and who gets saddled with new taxes and mandates.
Some skeptics may say taking action to combat climate change will cost jobs. But in reality, investment in new technology needed to combat climate change has started to revive manufacturing in Ohio. In Columbus Battelle is leading the research into carbon capture and sequestration to reduce emissions released into the atmosphere.
Recently, the Wall Street Journal highlighted how Toledo is experiencing new job growth because of the solar industry. In Canton, Timken is employing workers to produce ball bearings for climate-friendly wind turbines. Right here in Columbus Battelle Labs is leading the research into carbon capture and sequestration to reduce emissions released into the atmosphere.
Ohio’s rich manufacturing base also has a strong appeal to foreign companies investing in renewable energy. IBC Solar, Germany’s second-largest solar company, has committed to locate its U.S. headquarters in Cleveland. Europe’s largest solar panel manufacturer, Isofoton, is considering establishing its North American headquarters in Ohio.
These companies can be the start of a new future for Ohio’s work force if Congress establishes a cap and trade system to foster more of this kind of investment and innovation.
The alternative is to sit on the sidelines, while companies in countries that are already ahead of the U.S. on climate change get the windfall investments, the new jobs, and the ownership of new technologies that will be exported around the world. America is already falling behind in this race, but if we act now, we can quickly take the lead.
The U.S. Senate will have the opportunity to support cap and trade legislation in the coming weeks. This legislation has far greater capacity to foster new investment and new jobs than alternatives like energy taxes and government mandates.
We cannot ignore the scientific reality, confirmed by the National Academy of Sciences and accepted by President George Bush, that climate change threatens our national security and the world. As former Federal Reserve Chairman Paul Volker has said, “if you don’t take action, you can be sure that the economy will go down the drain in the next 30 years… What may happen to the dollar, and what may happen to growth in China or whatever pale into insignificance compared with the question of what happens to this planet over the next 30 or 40 years if no action is taken.
This entry was posted on Wednesday, February 20th, 2008 at 1:52 pm and is filed under Alternative Energy Technology, Cap and Trade . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
May 30th, 2008 at 1:07 pm
This is a big scam, and you guys are profiting from this scam. What would BBB do about government and companies like this lying to the public.