Madam Speaker, I rise today to talk about global warming and our energy future, the epic challenges of our time. First, I want to applaud our leader, Speaker Nancy Pelosi, for recognizing the…
Madam Speaker, I rise today to talk about global warming and our energy future, the epic challenges of our time.
First, I want to applaud our leader, Speaker Nancy Pelosi, for recognizing the importance of this issue to our children and our grandchildren. And I think she is right to put a deadline for the House to act.
Energy independence and global warming are of paramount concern to the American people. Most polls show the American people, by 70 to 80 percent, think these are very serious problems.
Today, a significant development occurred on this front. In the Capitol this morning, the U.S. Climate Action Partnership issued its call for action. This group is composed of environmental groups, World Resources Institute, NRDC, Environmental Defense, the Pew Center on Global Climate Change; industrial giants like Alcoa, BP, Caterpillar, Duke Energy and Dupont; and many others, including our power company in New Mexico, PNM Resources.
Listen to what they say in their report: ``We know enough to act on climate change.''
``The challenge is significant, but the United States can grow and prosper in a greenhouse gas constrained world.''
``In our view, the climate change challenge will create more economic opportunities than risks for the U.S. economy.''
``We need a mandatory flexible climate program.''
This report is significant, because major U.S. companies have stepped up to the plate and called for action now. They are optimistic. They believe we can get this done. In the 109th Congress, the Udall-Petri legislation, H.R. 5042, had most of the components called for by this partnership. We will reintroduce it in the 110th and try and capture these up-to-date recommendations.
Udall-Petri stands for immediate action. Our bill is a mandatory cap- and-trade system that uses the marketplace. It puts a price on carbon dioxide emissions. Our bill has a safety valve which balances economic losses with emissions reduction achievements. And our bill provides the flexibility to unleash American business ingenuity.
I told the partnership their first agenda item should be to meet with President Bush. Their message needs to be heard in the White House. The President has called for a voluntary program. While his voluntary program has been in place, we have seen no reduction in carbon dioxide emissions. In fact, we have seen every year in the 6 years a 2 percent increase every year. President Bush should take note of these business leaders and let's join together to leave the planet a better place for our children and grandchildren.
Madam Speaker, this morning myself and several Senators and Representatives including the Senate Majority Leader Reid and House Majority Whip Hoyer had the honor of participating in an unprecedented meeting with the CEOs of DuPont, GE, Duke Energy, Lehman Brothers, PG&E, FPL Company, Caterpillar, Alcoa, BP America, and PNM Energy from my home state of New Mexico, and the heads of the Natural Resources Defense Council, the Pew Center on Global Climate Change, Environmental Defense, and the World Resources Institute. The United States Climate Action Partnership, as this organization of CEOs is named, has coalesced around the urgent need to enact a federal global warming policy, and to enact it now. I am humbled both by the commitment expressed by these leading global corporations and by the enormity and importance of the task we here in Congress have before us to craft policies to address perhaps the most pressing issue of our generation. I applaud them for their leadership and courage on this issue, and I look forward to working with them.
The time for debate about whether or not global warming is real and whether or not it is
attributable to human activity on this planet, has passed. America must lead the global effort with a national global warming policy. We can no longer sit and reap the benefits of fossil fuels without mitigating the negative effects they are having on our planet and our way of life. We cannot, we must not, leave this one up to our children.
It is now the moment in time when we must create a policy to address global warming. To that end, my good friend and colleague from Wisconsin, Mr. Tom Petri, who was also present at the meeting this morning, have developed a comprehensive greenhouse gas emissions control bill. We introduced the Keep America Competitive Global Warming Act during the 109th Congress and are currently making minor changes to the legislation for reintroduction in the coming weeks. Our legislation will put our country on the path to reducing greenhouse gas emissions, while not jeopardizing American competitiveness, American jobs, and the American economy.
The bill is an economy-wide, upstream, cap-and-trade policy that covers all greenhouse gas emissions. However, to provide some certainty to the economy, the bill provides for an unlimited number of additional ``safety valve'' allowances. This safety valve provision provides cost- certainty to industry and will help ensure that this policy will not result in economic harm. We believe it is better to have a policy that works slowly yet surely rather than one that might prove economically unworkable. Many companies, including some who were present at this morning's meeting, have expressed the need for a safety valve in any mandatory greenhouse emissions control legislation.
Some of the other key provisions of this legislation include the creation of an Advanced Research Projects Agency at the Department of Energy to explore the truly out-of-the-box, high-risk, high-payoff research that will be necessary if we are to get to a low or no carbon dioxide and greenhouse gas world. Technological advancement hold the key to the long-term solution of global warming. Our bill also includes resources for workers, entities and localities who may be negatively impacted by this policy. Also, Madam Speaker, to address concerns about American competitiveness, our legislation ensures that the United States will not be put at a competitive disadvantage relative to developing countries or countries not taking actions comparable to ours to stem greenhouse gas emissions.
Madam Speaker, the message we hear from scientists is clear, we must act immediately to stop global warming. We must do so, however, in a responsible manner that does not cost American competitiveness and American jobs. Mr. Petri will soon be reintroducing our reasonable, certain, and efficient global warming legislation. Please join us in combating one the most pressing issues facing our country today.
