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Campaign 2008: Sen. Dodd's Energy Plan

By Alex Kaplun, E&ENews

April 19, 2007

Democratic presidential candidate Sen. Christopher Dodd (Conn.) outlined an energy plan today that includes a corporate carbon tax, leans heavily on alternative fuels and allows room for nuclear power development.

In a Washington speech, Dodd said his plan would dramatically reduce both greenhouse gas emissions and U.S. dependance on foreign oil. Much like the other candidates in the presidential race, Dodd's plan relies on a mandatory cap-and-trade scheme for greenhouse gases and a heavy use of biofuels.

The centerpiece of Dodd's proposal is the carbon tax. "You cannot be serious about acting on the urgent threat of global warming, about making us less captive to Middle East oil, or investing in renewable energy, unless you have a corporate carbon tax that eliminates the last incentive there is to pollute -- that it's cheaper," Dodd said.

Dodd is the first presidential candidate to propose such a tax. He dismissed questions about whether it could drive major corporations out of the country and emphasized its potential to generate roughly $50 billion a year in revenue to spend on alternative energy technologies.

He is also calling for a 20 percent renewable energy standard by 2020, a 36 billion gallon biofuel mandate by 2022, raising automobile fuel economy to 50 miles per gallon by 2017 and tax incentives for technology development.

Dodd also said nuclear power must grow. "Any honest discussion about global warming ... must put on the table technologies that get us away from the use of coal," he said.

The League of Conservation Voters praised the plan. The group is focusing on getting candidates to address energy policy. "Dodd's plan is one of the most comprehensive policies released by any of the 2008 candidates to date," said LCV President Gene Karpinski.

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