Lieberman Supports Cap And Trade

Senator Joe Lieberman says consideration of a new energy policy for the U.S. was derailed this session by the focus on healthcare reform. Lieberman told a business audience in Cromwell Monday that the country needs to address the threat of global warming urgently. WNPR’s Harriet Jones reports.

Lieberman is one of the leading proponents in the Senate of cap and trade, as a way to cut greenhouse gas emissions and create a marketplace in carbon. He says the side benefits would be a burgeoning renewable energy sector that would create jobs and a reduced dependence on foreign oil.

“Today we import nearly 70% of our petroleum, which means that every day we’re sending more than $1 billion overseas to buy fuel. Just imagine for a moment what we could do if we were spending and investing that money here in the US. We could create jobs, we could build infrastructure, we could energize our economy.”

Cap and trade has become an issue in Connecticut’s senate race, with Republican candidate Linda MacMahon claiming it amounts to an energy tax. Lieberman says that is a misunderstanding of the system, which he describes as a market based price. It’s been estimated that Connecticut utilities would save more than $26 million with cap and trade allowances because the state has cleaner power plants.

For WNPR, I'm Harriet Jones.