FOXNews.com - The First Green President - Opinion
President-elect Barack Obama could be the nation’s first green president -- whether he likes it or not. The Greens’ early investment in Obama’s political soul has matured, and they’re already angling for -- and even demanding -- payback.
Though the financial crunch should place economy-harming global warming legislation on the back burner, the Natural Resources Defense Council is pushing for it within the first 100 days of the new Congress, supposedly as a means of easing the credit crisis and financing renewable energy projects, according to a report in the November 3 issue of Carbon Control News.
Under the NRDC proposal, credits covering as many as six billion tons of carbon dioxide emissions would be issued in the program’s first year. The credits would be guaranteed a minimum value of $15 per ton by Obama’s Treasury Department, magically converting all that hot air into a $90 billion asset. The guarantee would allow the credits to be used as collateral for loans to green energy projects.
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