America is very close to stupidly installing a cap and trade system that has not worked in Europe in an effort to deal with global warming but in a manner that will enrich people who can game the system (and let the govt skim some off the top). I still don't think it will pass the Senate. Here's a quick way to deal with the issue in a direct manner which will have an immediate impact on fossil fuel use, generate lots of revenue for the govt to directly use for backstop nuclear reactor debt, wind farm growth, and potentially space based solar power: tax gas up to a level $4 per gallon. Tax it there as a steady price, so govt revenues would fluctuate, but as long as oil doesn't spike above $130 barrel again, everyone would expect gas to be $4 gallon and adjust their behavior.
1. People would drive less (helps fight the phantom menace of CO2)
2. Use less oil products, therefore saving fossil fuels for later and helps reduce oil imports
3. Generates revenue to be directly used for nuclear, wind, solar, etc. to help diversify our electricity generation portfolio
I wonder why the govt did not think of doing this rather than an odd system of cap and trade.... hmm... I wonder.
Note: Switching the US to use nat gas for cars and trucks would make too much sense since it is a domestic energy source. Too much sense.