Obama Calls for Carbon Cap,Citing Renewable Energy As Top Priority

In his address to a joint session of Congress, President Barack Obama called on Congress to pass legislation that caps carbon dioxide emissions and said that stimulating production of renewable energy is one of three “absolutely critical” elements to the country’s long-term economic future, along with health care reform and education. “To truly transform our economy, protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy,” said Obama. “So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America.” In laying out his long-term economic goals, he gave energy top billing, vowing to spend $15 billion a year on the development of renewable energy sources, such as wind, solar, and advanced biofuels; pledging to double the production of renewable energy in the next three years; promising to invest in a new electricity grid to accommodate renewable power sources; and saying his stimulus plan would provide funds to make U.S. homes and businesses more energy efficient.