Here are the details (pdf files) of President-elect Obama's plans for energy and the environment.
There is considerable overlap between the plans, but both are well worth the read.
Lots of standards and lots of incentives throughout.
Notice, for example, the cap-and-trade push (with all credits sold at auction) in the environment plan and increasing CAFE stadards for automobiles in both plans.
Can we do all of this?
We'll all be closely watching this of course over the next few years. One thing of particular interest to economists is the cap-and-trade (tradable permits) vs. carbon tax (Pigou) debate. Each has pros and cons.
Here's more reading on cap-and-trade vs. carbon taxes:
gristmill
Greg Mankiw
Environmental Defense Fund
The Carbon Tax Center
Common Tragedies response to the CBO
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For even more reading on cap-and-trade vs. carbon tax, here's a good site that offers arguments on both sides from law professors, a public policy expert and economists: here .
Well Obama's energy and environmental proposals sound as good as gold, and if his administration in fact can deliver on even half of the components compising the proposals, then we as a nation, and the world in general will be greatly benefited. Although many of the points raised in the proposals are important, I would like to point out two ideas I think are pivotal in the environmental revolution. I really like the "green vet initiative"(an initiative which will attempt to ease the transition of war veterans to the civilian work-force by training them with skills needed to easily plug them into evriromental related jobs),and the "green job corp"(which aims to get underprivalidged youth involved with the "green" movement). I think that helping those that have fought for this country, and instilling environmentally friendly values in our children is a big step in the right direction regarding securing our planet's future.
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