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Briefing

United States: Climate Change Policy

Appears in: North America, Geostrategy, Markets, United States, Climate Change and Clean Energy, Climate Change and Natural Resources, Commodities, Energy, Energy Security and Policy, Oil and Energy

Critical Issues

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Background:

The U.S. has historically been one of the most reluctant nations to sign on to legally binding climate change agreements, both at domestic and international level. Shifting gears, President Obama’s campaign committed to “implement an economy-wide cap-and-trade program to reduce greenhouse gas emissions 80% by 2050.” Since his inauguration, his personnel selections for climate change leadership, involvement with EPA decisions, and strong support for the swift passage of domestic climate change legislation suggests he plans to make good on that commitment. However, in addition to scientific uncertainty and the current economic state of the U.S. and the globe, cost, competitiveness, and comprehensiveness remain pivotal issues. 2010 may face stalled momentum given limited outcomes from Copenhagen, political partisanship in Congress, and the loss of the Democratic supermajority.

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