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Pres. Obama on Cap on Emissions
Solution:
- Target: 80% cut in emissions below 1990 levels by 2050.
- Enact an economy-wide cap-and-trade scheme with 100% allowance auction (no pollution rights given away for free).
- Invest a portion of auction revenue ($15 billion per year) into clean energy, efficiency improvements, next-gen biofuels and cleaner cars.
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