Oregon legislators are hard at work on two new "cap and invest" bills that would establish a "market-based, carrot-and-stick approach to reducing greenhouse gas pollution."
According to an article by Ted Sickinger, the state is moving forward on two bills that "will pit environmental advocates determined to see the state do more to combat climate change against business interests who believe the policy is either not ready for primetime or, worse, a job-killing energy sales tax that will deliver little benefit for the planet."
Strickland's article provides an explainer post for the concept of cap and invest—also known as cap and trade, a system already in place in Canada and California. Here's how Strickland describes the essential goal of the proposed bills: "The state would replace its current greenhouse gas reduction goals – which it’s projected to miss – with an economy-wide emissions limit that declines each year. Ultimately the target would ratchet down to meet the new emission caps: 45 percent below 1990 levels by 2035 and 80 percent below 1990 levels by 2050."
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