Thursday, May 17, 2007

Energy Policy Rollout

This morning, in a speech to New America Foundation in Washington, D.C., Governor Richardson rolled out his energy policy.

We'll bring you quotes from the speech as soon as we get them, but here are some highlights:

  1. Fuel Efficiency Standards - A 100 mile per gallon car to 50% market penetration by 2020. (likely a plug-in hybrid)
  2. Fuel Emission Standards - A low-carbon fuel standard that brings large amounts of alternative fuels to the market without causing damage to the environment. Richardson wants a 30% reduction from today's carbon impacts from liquid fuels by 2020.
  3. Renewable Energy - Create a whole new generation of renewable electricity sources to have 30% renewable energy by 2020. Create systems to store and release wind and solar power instead of using them only when nature turns them on.
  4. Carbon Cap and Trade System - Implement a cap and trade system that reduces global warming pollution by at least 20% by 2020 and 80% by 2040. Richardson's system would be based on auctions of the rights to emit global warming pollution.

Richardson also would convene a two-day summit, within 30 days of taking office, with automakers, labor, energy producers and utilities to plan for these changes. Legislation would go to Congress by May 1, 2009 in order for changes to go into effect by January 1, 2010.

If there is one Presidential candidate who has the gravitas to take on our significant policy challenges with regard to climate change and energy policy, it's the former Secretary of Energy, Bill Richardson.

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