Iowa Global Warming Campaign News
Financial crisis adds a wrinkle to plans for industry
Friday, October 24th, 2008 at 4:23 pm
Sen. John McCain and Sen. Barack Obama part company on many issues, but they agree that the Bush administration’s policies on global warming were far too weak.
The New York Times reports that both candidates say that human-caused climate change is real and urgent, and that they would sharply divert from President Bush’s course by proposing legislation requiring sharp cuts in greenhouse gas emissions by midcentury.
Such rare agreement has industry and environmental groups expecting a big shift, no matter who is elected, on three fronts where the United States has been largely static for eight years: climate legislation, expansion of nonpolluting energy sources and leadership in global talks on fashioning a new climate treaty.
But quick progress could be hostage to the financial crisis and the prospect of a worldwide recession. The economic turmoil could force the next president to delay legislation that imposes major new costs on struggling businesses or raises energy prices for consumers.
Read the full story here.








