Hillary’s Green Economy---an Earth Day memo:

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Hillary’s Green Economy---an Earth Day memo:

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Hillary’s Green Economy---an Earth Day memo:

Earth Day

by Lindsay Levin
4/19/2008 12:54:51 PM

Hillary has a long history of working to protect our environment, and with Earth Day just around the corner it’s important to focus on the challenges ahead. Hillary has outlined a comprehensive plan to address the energy and environmental concerns facing our country, while at the same time focusing on a green, efficient economy that will create as many as five million new jobs.

Centered on a cap and trade system for carbon emissions, stronger energy and auto efficiency standards and a significant increase in green research funding, Hillary's plan will reduce America's reliance on foreign oil and address the looming climate crisis.

Hillary is committed to helping our nation transition towards a clean and renewable energy future – click here to read Hillary’s full plan to address the energy and climate crisis…….

http://www.hillaryclinton.com/files/pdf/poweringamericasfuture.pdf

Powering America’s Future:

Hillary Clinton’s Plan to Address the Energy and Climate Crisis

Hillary understands that we face two immense energy and environmental challenges: a growing
climate crisis, and an increasing reliance on foreign oil that is driving up energy costs for
Americans. She also knows that Americans have always demonstrated the will and the ingenuity
to confront the problems of their times, from the New Deal, to the Cold War, to the Space Race.

Today, global warming and dependence on foreign oil are two of the biggest challenges of our
time, and as President, Hillary will set three big goals to meet them:

Reduce greenhouse gas emissions 80% from 1990 levels by 2050 – the level necessary to
avoid the worst impacts of global warming.

Cut foreign oil imports by two-thirds from projected levels by 2030.

Transform our carbon-based economy into an efficient green economy, creating at least 5
million jobs from clean energy over the next decade.

Hillary Clinton’s plan to promote energy independence, address global warming, and
transform our economy includes:

A new cap-and-trade program that auctions 100% of permits alongside investments to move
us on the path towards energy independence;

An aggressive, comprehensive energy efficiency agenda to reduce electricity consumption
20% from projected levels by 2020 by changing the way utilities do business, catalyzing a
green building industry, enacting strict appliance efficiency standards, and phasing out
incandescent light bulbs;

A $50 billion Strategic Energy Fund, paid for in part by oil companies, to fund investments
in alternative energy. The SEF will finance one-third of the $150 billon ten-year investment
in a new energy future contained in this plan;

Doubling of federal investment in basic energy research, including funding for an ARPA-E, a
new research agency modeled on the successful Defense Advanced Research Projects
Agency

Aggressive action to transition our economy toward renewable energy sources, with
renewables generating 25% of electricity by 2025 and with 60 billion gallons of home-grown
biofuels available for cars and trucks by 2030;

10 “Smart Grid City” partnerships to prove the advanced capabilities of smart grid and other
advanced demand-reduction technologies, as well as new investment in plug-in hybrid
vehicle technologies;

An increase in fuel efficiency standards to 55 miles per gallon by 2030, and $20 billion of
“Green Vehicle Bonds” to help U.S. automakers retool their plants to meet the standards;

A plan to catalyze a thriving green building industry by investing in green collar jobs and
helping to modernize and retrofit 20 million low-income homes to make them more energy
efficient;

A new “Connie Mae” program to make it easier for low and middle-income Americans to
buy green homes and invest in green home improvements;

A requirement that all publicly traded companies report financial risks due to climate change
in annual reports filed with the Securities and Exchange Commission; and

Creation of a “National Energy Council” within the White House to ensure implementation
of the plan across the Executive Branch.

The Challenge

Our reliance on foreign oil raises prices for families, contributes to the climate crisis, and
leaves us more vulnerable to unstable regimes: Since 2001, gasoline prices have increased
105%, and energy costs are now consuming nearly one-fifth of after-tax income for the majority
of low and middle-income families—double the percentage of 10 years ago. And today, with oil
prices at all-time highs near $100 a barrel, foreign oil now accounts for 60% of the almost 21
million barrels of crude oil that we consume each day. In order to meet this demand, we send
$20 billion each year to the Middle East. Our investment has filled the coffers of corrupt regimes
in developing countries, many of whom do not share our interests. In the next twenty years, if
American oil dependence continues to grow as rapidly as it has in recent years, we will send
more than $5 trillion out of the United States economy.

Our planet is warming, with potentially cataclysmic results: The scientific community has
established beyond doubt that global warming is occurring; the 20th century's last two decades
were the hottest in 400 years. The IPCC has further predicted that the average temperature will
rise by three to nine degrees by the end of the century, and as a result sea levels will rise between
7 and 23 inches, dramatically affecting the one hundred million people who live within 3 feet of
the mean sea level. Security experts believe that these impacts will pose a serious national
security threat by increasing instability in some of the world’s most volatile regions.

The Costs of Inaction are Rising: The failure to address the climate crisis will put the United
States economy in jeopardy. A recent University of Maryland study of the economic costs of
continued climate change in the United States documented hundreds of billions of dollars of
increased costs in all regions of the country due to the heightened risk of forest fires in the West
and Northwest; increased frequency and severity of flooding and drought events in the Great
Plains and Midwest; and more frequent and intense heat waves like the 1995 Chicago heat wave,
which resulted in 600 deaths. A recent U.N. report on the state of the global environment
suggests that the costs of inaction in the face of climate change and other global environmental
problems exceeds the cost of acting to reduce pollution.
Paid for by Hillary Clinton for President
3
Hillary Clinton’s Plan: Turning the Challenges of Energy Dependence and Global
Warming into an Economic Opportunity

Meeting the challenge of reducing our nation’s energy dependence and staving off the threat of
global climate change will require the leadership of the President and the cooperation of the
private sector and all Americans:

Our government has a responsibility to provide a framework, incentives and investments to
move us on the path towards energy independence; lead again in the international arena; and
reform its organizational structure to address this new energy challenge.

Oil companies must help develop a thriving alternative energy industry in America by
investing more in alternative energy or by funding such investments through a windfall
profits fee.
Utilities have a responsibility to fundamentally reshape how they do business; transitioning
from outdated systems that reward excess energy production to market-based approaches that
reward efficiency, distributed generation, and conservation.
Auto companies need to improve fuel efficiency in their cars and trucks.
Businesses large and small should strive to make their operations and products more energy
efficient, which will help them save money and be more competitive.
Individuals have a responsibility to lower their own energy consumption and hold their
leaders accountable for reducing greenhouse gas emissions.

GOVERNMENT'S ROLE:

Setting the Rules of the Road, And Leading the Way
by Reforming Itself to Meet New Energy Challenges

Reducing Global Warming Pollution 80% by 2050, Protecting Consumers, and Supporting
Clean Energy – A fundamental cornerstone of Hillary's plan is reducing greenhouse gas
emissions to 1990 levels by 2020 and to 80% below 1990 levels by 2050—the level necessary to
avoid the most dire consequences of global warming. Hillary will achieve this aggressive
reduction by maximizing our energy efficiency; creating market mechanisms to efficiently
reduce greenhouse gas emissions; and promoting renewable, carbon-free energy sources.

Creating a Market-Based Cap and Trade Program, and Auctioning 100% of Greenhouse
Gas Permits – Hillary will establish a market-based “cap and trade” system to provide an
overall framework for reducing greenhouse gas emissions. The system would auction 100% of
allowances to ensure that utilities and other companies do not obtain a windfall. The system
would also provide flexibility for companies to bank, borrow and trade allowances. The
proceeds from the sale of allowances would be used to provide tax benefits for working and
middle-class families and energy intensive industries, as well as incentives for energy efficiency
and renewable technologies. The cap and trade approach was used successfully to limit sulfur
dioxide and reduce levels of acid rain in 1990s to reduce annual sulfur dioxide emissions by 7
million tons below 1980 levels.,,,,,,,,,,,,

MUCH MORE………

,,,,,,Modernizing the Grid for the 21st Century Using “Smart Grid” Technology: Our electricity grid is antiquated, resulting in costly blackouts, the overbuilding of generation capacity, and large losses in energy during transmission. We need to move aggressively toward a smart grid --a web-enabled, digitally controlled, intelligent power delivery system that efficiently distributes electricity and protects against blackouts, brown-outs and excess energy use. With smarter twoway communications, utilities and consumers can get more control over consumption and save money. A recent study found that using demand reduction programs, which would be greatly facilitated by an interactive smart grid, can reduce “peak demand” by 5 percent and save $35 billion in energy costs over a 10-year period. Other potential “smart grid” benefits include: more efficient power plants; smaller transmission infrastructure needs; more control and better
incentives for consumers to save energy; net metering for solar and other distributed renewables;
and the ability for consumers to sell power back into the grid. Hillary would realize the potential
of the smart grid by:……….

Funding 10 “Smart Grid Cities.”
………….

AN ECONOMY TRANSFORMED:

At Least 5 Million Clean Energy Jobs Over the Next Decade
Hillary believes that by transitioning from a carbon-based economy to a green, energy efficient
economy, we have the potential to unleash a wave of private sector innovation and create at least
5 million new jobs from clean energy over the next decade. But it will only happen if we deploy
the strength of America’s entrepreneurs, our capital markets and the commitment and resolve of
our citizens.

Hillary’s plan lays the foundations of investment and incentives to encourage private sector
innovation that can move us toward this jobs goal. The U.S. has an opportunity to lead in the
development of new green technologies, creating new companies, spin-off enterprises, and
entrepreneurs who are creating wealth while moving us toward a carbon free future. Hillary’s
plan will help catalyze an efficiency revolution in buildings, homes, appliances and utilities; spur
rapid growth in the domestic renewables industries; and invest in energy innovation and R&D,
all of which will drive productivity and additional job growth. And her plan will help the private
sector create “green collar” jobs—in research and development, manufacturing, construction,
engineering, consulting and a variety of other areas—that will help ensure strong growth of
America’s middle class over the next decade. Hillary’s goal of at least 5 million new jobs over a
decade is well within our reach, considering:……….

Recent Studies Suggests Dramatic Job Growth Potential from Energy Efficiency.

Energy efficiency is the cheapest, cleanest, fastest way to reduce energy consumption and
energy costs. Hillary’s plan lays out an ambitious agenda to make this “fifth fuel” of energy
efficiency a first priority—by changing the way utilities do business, catalyzing the green
building industry, enacting stricter appliance standards, and phasing out incandescent light
bulbs. A recent study by University of California Berkeley found that efficiency
improvements drive innovation, productivity growth and consumer savings. Within an
overall framework of reducing greenhouse gas emissions and transitioning to renewables, the
benefits from efficiency improvements could help create more than a million new jobs in
California alone over the next ten years. Action in California, 2007]. Based on conservative assumptions, this study suggests that the
nationwide benefit from efficiency gains could help create well over 5 million jobs over a
decade. Other studies that have analyzed the direct job impact from efficiency investments,
find that the benefits would be substantial:

o Catalyzing a Green Building Industry: Hillary’s commitment to modernize 20 million
homes, improve building efficiency through the Green Building Fund, and update the
federal building stock will encourage the creation of more than 500,000 private sector
“green collar” jobs. Community Services Programs 2007]. Many of these jobs will be entry level
construction jobs in America’s inner cities. In addition, Hillary’s Connie Mae
program will expand private investment in energy efficient homes and buildings and
help expand this burgeoning sector. The scale of this market is impressive – half of all
new buildings in 2030 will have been built after 2000.

o Green Jobs from Updating Our Energy Grid: Hillary’s smart-grid programs have the
potential to catalyze significant private investment in modernizing our outdated
energy grid. Such investment would create new jobs and drive efficiency
improvements as well. This could help create more than 400,000 private sector jobs
over a decade. .

Transitioning to Renewable Energy Sources Can Drive New American Manufacturing
and Create Millions of New Jobs. A recent study by the University of Tennessee found that
our economy could create about 2 million jobs from clean energy over 10 years if we get on a
path to produce 25% of our electricity and motor fuel needs from renewables by 2025.
Agricultural and Economic Impacts, November 2006]. In addition, strengthening U.S.
manufacturing in renewables will help create jobs from accelerated exports. A recent study
found that “a renewable energy industry servicing the export market can generate up to 16
times more employment than an industry that only manufactures for domestic consumption.”
.
The export potential and related job benefits are substantial in a global renewables market
that is projected to grow from $55 billion in 2006 to $226 billion in 2016. 2007]. …….

A FISCALLY RESPONSIBLE PLAN

The total federal cost of the tax incentives and investments in Hillary Clinton’s plan is
approximately $15 billion per year—or $150 billion over ten years. This includes $5 billion per
year from the Strategic Energy Fund, which is financed internally by a windfall profits fee and
removing special tax breaks for oil and gas companies. Hillary will finance the remaining $10
billion per year without increasing the deficit by dedicating $2.5 billion in additional savings
from closing loopholes for oil and gas companies and dedicating a portion (about $7.5 billion) of
revenue from the cap and trade auction.

..much much more--check link above for details please.