Promises about Regulation on The Obameter
Will close "loopholes" in Commodity Futures Trading Commission regulations that have contributed to the skyrocketing price of oil on world markets. "Will enact simple legislation to close these loopholes and increase transparency on the market to help bring oil prices down and prevent traders from unfairly lining their pockets at the expense of the American people."
"Will increase fuel economy standards 4 percent per year ... ."
"Will set a hard cap on all carbon emissions at a level that scientists say is necessary to curb global warming - an 80% reduction by 2050. To ensure this isn't just talk, I will also commit to interim targets toward this goal in 2020, 2030, and 2040. These reductions will start immediately, and we'll continue to follow the recommendations of top scientists to ensure that our targets are strong enough to meet the challenge we face."
"Will set an aggressive energy efficiency goal—to reduce electricity demand 15 percent from DOE's projected levels by 2020. Implementing this program will save consumers a total of $130 billion, reduce carbon dioxide emissions by more than 5 billion tons through 2030, and create jobs. A portion of this goal would be met by setting annual demand reduction targets that utilities would need to meet. The rest would come from more stringent building and appliance standards."
"A small portion of the receipts generated by auctioning [cap and trade] allowances ($15 billion per year) will be used to support the development of clean energy, invest in energy efficiency improvements, and help develop the next generation of biofuels and clean energy vehicles – measures that will help the economy and help meet the emissions reduction targets. It will also be used to provide new funding to state and federal land and wildlife managers to restore habitat, create wildlife migration corridors, and assist fish and wildlife to adapt to the effects of a warming climate. All remaining receipts will be used for rebates and other transition relief to ensure that families and communities are not adversely impacted by the transition to a new energy, low carbon economy."
Will provide "support to domestic automakers to invest $50 billion to retool their manufacturing facilities in America to produce [fuel efficient] vehicles."