I can for a moment place myself in a position where I would imagine being worried about CO2 and dependence on fossil fuels. For someone who really cares about these things, here is what a rational energy plan would look like:
- large federal carbon tax, offset by reduction in income and/or payroll taxes
- streamlined program for licensing new nuclear reactors
- get out of the way
Interestingly, Sen. Bob Corker (R-Tenn.) suggested to Gore during the hearing that a better proposal would be to impose an across-the-board carbon tax which would then be reimbursed entirely by cutting the payroll tax.
He has much more on problems of cap and trade in the article. I have written many times on a carbon tax vs. cap-and-trade, indexed here.