Turning his attention to the climate regulation debate, John McCain presented his strategy for confronting global climate change. McCain’s plan:

• Mandates gradual greenhouse gas emissions reductions under a cap-and-trade program to reach 60% below 1990 levels by 2050, with an “increasing fraction of permits for emissions could be supplied by auction.” By comparison, both Hillary Clinton’s proposal and Barack Obama’s proposal commit to reducing greenhouse gas emissions 80% from 1990 levels by 2050 and auctioning 100% of the permits provided under a cap and trade system.
• Promotes the development and deployment of technologies, through federal research spending, government purchasing, funds from the sale of emissions credits, and facilitating commercialization of advanced low-carbon technologies.
• Identifies nuclear energy generation as “a mature, zero-emissions technology” which will become increasingly competitive in an emissions-restricted future. A recent CBO study indicated that “[c]arbon dioxide charges of about $45/metric ton would probably make nuclear generation competitive with conventional fossil fuel technologies as a source of new capacity.”
• Emphasizes the goal of “equal treatment” in the global climate negotiations, and specifically seeks agreement on emissions reduction goals from “China, India, and other developing economic powers.” McCain’s strategy envisions the US leading the world in the commercialization and export of low carbon technologies and would provide incentives for the sale of clean technologies to developing countries.
• Advances adaptation measures to ameliorate the impacts of climate change.

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