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Cap and trade: Price of control
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By Mike Boyer / [email]mboyer@enquirer.com[/email] • July 26, 2009

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Among all the issues facing the United States, climate change could be the most important in the long run. It is driving a major debate in Washington over a complex proposal, called "cap and trade," designed to reduce emissions of greenhouse gases.



If passed by Congress, the plan would change the way companies do business, and would affect the finances and lifestyles of Americans for decades to come.

The legislation, sought by President Obama, would cap emissions of carbon dioxide and six other greenhouse gases believed to be a major source of global warming. It also lays out steps to transform the U.S. economy by increasing energy efficiency, using more renewable fuels and developing new technology while lessening reliance on foreign energy sources.

Depending on your point of view, the climate change legislation will:

Destroy thousands of U.S. jobs as manufacturing moves overseas, or create thousands of "green" jobs and restore U.S. competitiveness.

Cost consumers hundreds, if not thousands, of dollars annually or cost the average consumer about the price of a postage stamp a day.

Combat global warming pollution, or result in more global warming pollution.

There's a lot at stake for local businesses and consumers.

Because the Cincinnati area relies heavily on coal-fired electricity and has little mass transit, the average resident emitted 3.281 tons of carbon in 2005, third-highest among the nation's 100 largest metropolitan areas, according to a year-old Brookings Institution study. The region's footprint per person increased 12 percent from 2000 to 2005, according to the study.

Advocates say climate-change legislation is ultimately more fundamental than reform of health care, the issue dominating recent headlines.

"Not to demean the health-care debate, but if our planet isn't habitable it won't make a lot of difference what type of health-care system we have," said Joe Mendelson, director of global warming policy for the Washington, D.C.-based National Wildlife Federation. Slowing global warming could have a big impact on limiting the spread of disease and illness and the cost of health care, he said.

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