Obama happy with first step on climate change

President Obama of the US called the new climate bill passed by the House on Friday an ‘extraordinary’ first step and that he hopes it will move to further legislation that will enable renewable energy development to become a route to economic growth.

He also added that he hopes Congress will remove a tariff that prevents the imports of countries that do not have a system in place for attacking CO2 emissions.

Obama stated that since the economy is already in a recession across the globe the country needs to be careful about being selective to a high degree when it comes to global trade.

The House legislation was led by Representatives Henry A. Waxman and Edward Markey and sets to impose a limit on CO2 emissions by the year 2012. In 2020 the limits would lower an additional 17% from 2005 levels.

Allowances were given in the House bill to large industries and other powerful industry groups including superconductor makers, coal-fire utilities, algae makers, and oil firms. Obama did not criticize the exclusions, stating that they were needed to help different regions adjust and to minimize the regional differences that the new CO2 laws would have on the nation.

The CO2 limiting legislation barely passed in Congress, with a 219-212 vote which widely followed party lines with just eight Republicans voting with Democrats in favour of the bill’s approval.

There is not a timetable for the Senate’s action on the bill, but Obama did encourage them to ‘seize the day.’