FinSoul: Barack Obama to push for climate legislation in 2010, but does not mention cap-and-trade.

Jan. 28, 2010 - PRLog -- FinSoul sources indicate that Barack Obama, in his State of the Nation speech has strongly voiced his hope of passing a comprehensive energy and climate bill in the U.S. Senate that included incentives for renewable and nuclear energy and offshore oil drilling.

"This year, I am eager to help advance the bipartisan effort in the Senate," Obama said.

The president did not, however, at any point mention the words “cap-and-trade”, the market mechanism used to cut emissions blamed for global warming, which was contained in the bill narrowly passed in June last year by the House of Representatives.

In what was seen as an attempt to woo votes from the opposition Republicans, the president said the country must build a new generation of nuclear plants.

The authors of the original bill, Democrat Senator John Kerry, Republican Lindsey Graham and independent Joe Lieberman, are presently working on a compromise bill which includes more incentives for nuclear power and offshore drilling, FinSoul believes.

Obama acknowledged that some feared that capping emissions would raise energy prices and that others doubted the science of global warming.

"But even if you doubt the evidence, providing incentives for energy efficiency and clean energy are the right thing to do for our future because the nation that leads the clean energy economy will be the nation that leads the global economy," FinSoul believes the president was quoted as having said.  

He added that the U.S. needed to make some tough decisions on climate change and clean energy as countries like China and India were not waiting. "They are making serious investments in clean energy because they want those jobs."

President Obama highlighted that there was massive scope for job creation in clean energy research and technology development.

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FinSoul structures and guides greenhouse gas emission reduction projects from beginning to end, working with both project developers and buyers of emission reduction credits.