Fortune: You've been an enthusiastic supporter of climate-change legislation that would have the effect of essentially putting a penalty price on the use of fossil fuel in order to encourage clean energy. Should consumers and businesses be prepared to pay higher prices for electricity and gasoline? Is that pain inevitably in our future?Barack Obama also supports cap and trade.
McCain: I have a fundamental difference with the opponents of cap and trade. History shows me that every time there's been technological advances, it has been beneficial to the economy and the American people. Every time we invent a quicker, a more advanced technology chip, then it's been an increase in productivity of economic benefit. I believe that green technologies — whether it be nuclear power, whether it be wind, solar or tide — can be beneficial to our economy and increase productivity, and improve the lives of American citizens in every aspect. And I'm sorry for the long answer. But the fundamental philosophical difference I have with the opponents of cap and trade is that they believe it will require greater sacrifice on the part of American citizens. I think innovation and advanced technology is beneficial to the lives of American citizens and to our economy. And I know that there's strong disagreement with that.
Tuesday, July 8, 2008
Cap and trade, energy prices, and the environment
This comes from an interview about the economy in Fortune.