Cap and Trade policy disputed by 9th District candidates

The possibility that man-made emissions might be harming our environment has been discussed by lawmakers since Richard Nixon’s presidency, and environmental policy continues to be a staple of candidates’ platforms.

One proposed economic solution for pollution from power plants is known as emissions trading, or cap and trade policy. This would set caps, or limits, on the amount of pollutants plants are permitted to emit.

Companies that exceeded these limits would be heavily fined, and companies that reduced emissions would have extra permits to pollute.

The companies that reduce emissions would be able to then sell those extra permits to other companies coming close to or exceeding their caps.

The idea is those who can lower their emissions cheaply will have the incentive to do so, lowering pollution at the lowest cost to society.

Economics professor Roy Gardner said some governmental bodies, such as the European Union, have adopted this solution, but many businesses are against the policy because it raises their costs.

“Cap and trade for carbon dioxide emissions passed the House but failed in the Senate this session,” Gardner said. “The political support just isn’t there in the USA.”
Baron Hill, D-9th District, said he supported a recent bill that would have addressed environmental concerns.

“First, it lessened our dependence on foreign oil by investing in clean technology here in Indiana,” Hill said. “Second, it reduced carbon emissions significantly and lessened our impact on climate change. Finally, it created clean energy jobs here in Indiana that cannot be shipped overseas.”

Hill is the only one of the three 9th District congressional candidates that supports cap and trade policy.

Republican candidate Todd Young was unavailable for comment.

At the 9th Congressional District debate Oct. 18, Young said he has not been convinced that global warming is man-made.

He said there are reasonable arguments on both sides of the debate.
Young also said passing this legislation while recovering from a bad economy will only hurt Indiana residents.

“It’s going to hurt businesses and consumers alike,” Young said.
Young said countries with higher pollution rates than the U.S., such as China, must be kept accountable if the U.S. decides to limit emissions.

Greg Knott, the 9th Congressional District Libertarian candidate, has similar concerns about emissions trading. He said the previously proposed plan would have caused businesses to ship jobs overseas, severely impacting working Americans.

Knott also said if businesses move overseas, it would harm the environment more because they would operate in countries with little to no environmental regulations.

“To fix anthropogenic climate change will require a multi-lateral agreement,” Knott said. “We must keep working for a global agreement that includes the worst polluters in the developing world.”