Senator Clinton's proposals are remarkably similar to Obama's on a number of levels. She too favors a cap-and-trade system which would see 100% of permits auctioned; she too hopes to invest $150 billion over ten years in "new energy" (some of the bills to be footed by corporations); and she too hopes to double federal investment in energy research. She has established timetables of national goals for energy reduction and use of clean energy similar to those of Obama. And finally, she too favors efforts to increase automobile fuel efficiency, specifically through the provision of $20 billion in "Green Vehicle Bonds" to American automakers. It would be interesting to see a chronological side-by-side of their respective policy evolutions.

In her traditional mass appeal to America's middle and lower-middle classes, there is finally something of a differentiation, if it is more one of form than function. In addition to supporting "green collar" jobs, she would seek to modernize 20 million existing low income homes to improve energy efficiency. She would initiate a "Connie Mae" program to ease the acquisition of green homes by low and middle-income Americans. And finally she would require all new federal buildings to comply with zero-emissions specifications.

There is one commendable initiative unique to Clinton. She would oblige publicly-traded companies to include estimations of financial risk posed by climate change in annual reports submitted to the federal Securities and Exchange Commission. However such a policy might be of limited effectiveness if companies included the estimations only to appease the requirement without genuine regard for its implication.

To end the investigation, it is John McCain who receives poor marks, not for benevolence of intentions but for clarity of vision. In five short and murky paragraphs, it is he who commits the sin of "vague uplift", failing to elicit a single clear policy initiative through verbose allusions to the forces of a cap-and-trade regime. In the spirit of Teddy Roosevelt he believes in preserving America's natural majesty. His belief that "America's economic and environmental interests are not mutually exclusive, but rather inextricably linked" is all fine and well. But I would hope to see a more clear-eyed expression of his means to this end. In a video clip tagged to the page, the Senator expresses his belief that the United States should join the Kyoto Protocol if China and India could be brought onboard. This suggests another debate which I evoked in last week's column concerning the respective sacrifices of developed and developing nations in the battle to cut greenhouse emissions. Finally, citing the instability of many oil-producing states, McCain too advocates energy independence for the United States. America has been a net importer of oil for decades; true independence is only achievable through the intensive use of renewables and a great push to improve conventional fuel efficiency.

I hazard to presume that more specific policy proposals will become readily available from the McCain campaign as November approaches.

Copyright (c) 2008 Daniel Lafleche

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