John McCain
Speech
Portland, OR 05/12/08

TRANSCRIPT: "And this is the proposal I will submit to the Congress if I am elected president -- a cap-and-trade system to change the dynamic of our energy economy. As a program under the Clean Air Act, the cap-and-trade system achieved enormous success in ridding the air of acid rain. And the same approach that brought a decline in sulfur dioxide emissions can have an equally dramatic and permanent effect on carbon emissions. Instantly, automakers, coal companies, power plants, and every other enterprise in America would have an incentive to reduce carbon emissions, because when they go under those limits they can sell the balance of permitted emissions for cash. As never before, the market would reward any person or company that seeks to invent, improve, or acquire alternatives to carbon-based energy. It is very hard to picture venture capitalists, corporate planners, small businesses and environmentalists all working to the same good purpose. But such cooperation is actually possible in the case of climate change, and this reform will set it in motion."

LABEL: JM OR 5-12 (JC#130) UK - ClipC

If you'd like to acquire a high resolution version of this clip, email videoprogressivemedia@gmail.com.