Hillary Clinton Campaign Press Release - Clinton Unveils Bold Plan To Tackle Energy And Climate Crisis

Would Reduce Greenhouse Gas Emissions by 80%, Cut Oil Imports By Two-Thirds, Increase Fuel Efficiency Standards To 55 MPG

Create Green Economy, At Least 5 Million Clean Energy Jobs

Hillary Clinton announced a bold and comprehensive plan to address America's energy and environmental challenges in a speech in Cedar Rapids, Iowa today, vowing to establish a green, efficient economy and create as many as five million new jobs.

Centered on a cap and trade system for carbon emissions, stronger energy and auto efficiency standards and a significant increase in green research funding, Hillary's plan will reduce America's reliance on foreign oil and address the looming climate crisis.

"This is the biggest challenge we've faced in a generation, a challenge to our economy, our security, our health, and our planet. It's time for America to meet it," Clinton said.

"I believe America is ready to take action, ready to break the bonds of the old energy economy, and ready to prove that the climate crisis is also one of the greatest economic opportunities in the history of our country. Seizing it will unleash a wave of innovation, create millions of new jobs, enhance our security, and lead the world to a revolution in how we produce and use energy. It will be a new beginning for the 21st century."

Setting ambitious targets, Hillary's plan would reduce greenhouse gas emissions by 80% from 1990 levels by 2050 to avoid the worst effects of global warming, and cut foreign oil imports by two-thirds from 2030 projected levels, more than 10 million barrels per day.

Hillary would transform our economy from carbon-based to clean and energy efficient, jumpstarting research and development through a $50 billion Strategic Energy Fund and doubling investment in basic energy research. She would also spur the green building industry by funding the retrofitting and modernization of 20 million low-income homes and take concrete steps to reduce electricity consumption, including enacting strict appliance efficiency standards and phasing out incandescent light bulbs.

Recognizing that transportation accounts for 70% of U.S. oil consumption, Hillary would increase fuel efficiency standards to 55 miles per gallon by 2030, but would help automakers retool their production facilities through $20 billion in "Green Vehicle Bonds."

To take the steps necessary to transition to a clean and renewable energy future, Hillary will urge all of the nation's stakeholders to contribute to the effort. Automakers will be asked to make more efficient vehicles; oil and energy companies to invest in cleaner, renewable technologies; utilities to ramp up use of renewables and modernize the grid; coal companies to implement clean coal technology; government to establish a cap and trade carbon emissions system and renew its leadership in energy efficient buildings and services; individuals to conserve energy and utilize efficient light bulbs and appliances in their homes; and industry to build energy efficient homes and buildings.

Hillary Clinton's plan to promote energy independence, address global warming, and transform our economy includes:

• A new cap-and-trade program that auctions 100% of permits alongside investments to move us on the path towards energy independence;
• An aggressive comprehensive energy efficiency agenda to reduce electricity consumption 20% from projected levels by 2020 by changing the way utilities do business, catalyzing a green building industry, enacting strict appliance efficiency standards, and phasing out incandescent light bulbs;
• A $50 billion Strategic Energy Fund, paid for in part by oil companies, to fund investments in alternative energy. The SEF will finance one-third of the $150 billon ten-year investment in a new energy future contained in this plan;
• Doubling of federal investment in basic energy research, including funding for an ARPA-E, a new research agency modeled on the successful Defense Advanced Research Projects Agency
• Aggressive action to transition our economy toward renewable energy sources, with renewables generating 25% of electricity by 2025 and with 60 billion gallons of home-grown biofuels available for cars and trucks by 2030;
• 10 "Smart Grid City" partnerships to prove the advanced capabilities of smart grid and other advanced demand-reduction technologies, as well as new investment in plug-in hybrid vehicle technologies;
• An increase in fuel efficiency standards to 55 miles per gallon by 2030, and $20 billion of "Green Vehicle Bonds" to help U.S. automakers retool their plants to meet the standards;
• A plan to catalyze a thriving green building industry by investing in green collar jobs and helping to modernize and retrofit 20 million low-income homes to make them more energy efficient;
• A new "Connie Mae" program to make it easier for low and middle-income Americans to buy green homes and invest in green home improvements;
• A requirement that all publicly traded companies report financial risks due to climate change in annual reports filed with the Securities and Exchange Commission; and
• Creation of a "National Energy Council" within the White House to ensure implementation of the plan across the Executive Branch.
• A requirement that all federal buildings designed after January 20, 2009 will be zero emissions buildings.

Hillary's full plan can be viewed here.