US legislature to introduce a market-based mechanism to place a price on carbon?

President Barack Obama

President Barack Obama

13 February 2013 — US President Barack Obama has called on the US legislature to introduce a market-based mechanism to place a price on carbon.

President Obama was delivering his 2013 State of the Union address, delivered to Congress, 13 February, Australian time.

The President called on Congress to pass a bill similar to that proposed by Senator John McCain and former Senator Joe Lieberman a few years ago, which would have introduced a US “cap and trade” emissions trading scheme.

“I urge this Congress to get together to pursue a bipartisan, market-based solution to climate change, like the one John McCain and Joe Lieberman worked on together a few years ago,” he said.

“But if Congress won’t act soon to protect future generations, I will.”

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