Video archive of the US Congress

House Proceeding on Mar 23rd, 2009 :: 0:11:10 to 0:16:25
Total video length: 27 minutes Stream Tools: Stream Overview | Edit Time

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Lloyd Doggett

0:11:06 to 0:11:27( Edit History Discussion )

Lloyd Doggett: get million-dollar bonuses for running a massive company into the ground to be average. thank you, madam speaker. i yield back. the speaker pro tempore: the chair now recognizes the gentleman from texas, mr. doggett, for five minutes. mr. doggett: thank you very much. you know, with all the recent talk about unearned bonuses, i want to talk about a bonus that

Lloyd Doggett

0:11:10 to 0:16:25( Edit History Discussion )
Speech By: Lloyd Doggett

Lloyd Doggett

0:11:28 to 0:11:49( Edit History Discussion )

Lloyd Doggett: we americans can give to oursel we can do that by approving president obama's plan to make clean, renewable energy the profitable kind energy. because we can build a clean energy economy by reducing greenhouse gas emissions, carbon pollution through a

Lloyd Doggett

0:11:50 to 0:12:10( Edit History Discussion )

Lloyd Doggett: market-based system as the president has proposed, i, together with a number of my colleagues, will develop the safe markets energy act. this will help to ensure that any future market for carbon allowances is not abused by price speculators or undermined by price volatility.

Lloyd Doggett

0:12:11 to 0:12:32( Edit History Discussion )

Lloyd Doggett: this is the first cap and trade measure to be filed in this congress and it is unique both in responding to concerns about market manipulation and in its broad support bringing new members and a broader array of interest behind this new idea about how to resolve one aspect of our transition to a cleaner world.

Lloyd Doggett

0:12:33 to 0:12:54( Edit History Discussion )

Lloyd Doggett: the safe market bill offers an approach that will provide a narrow auction and trading environment for the startup phase of a cap and trade or cap and invest system. experts on commodity markets tell us that price volatility is not unusual with new markets. and certainly legitimate concern recently over

Lloyd Doggett

0:12:55 to 0:13:18( Edit History Discussion )

Lloyd Doggett: speculation and fossil fuel and financial markets must not stand in our way of a new clean energy policy. how does this bill achieve science-based emission reductions? independent board with strict conflict of interest provisions and postemployment restrictions to determine the annual prices per ton of carbon necessary to

Lloyd Doggett

0:13:19 to 0:13:39( Edit History Discussion )

Lloyd Doggett: meet science-basednnual emission targets from 2012 to 20. the treasury department would conduct quarterly allowance auctions designed to maintain this price, and under the legislation, the board would conduct an annual review in order to adjust forecast prices to ensure compliance witthe

Lloyd Doggett

0:13:40 to 0:14:02( Edit History Discussion )

Lloyd Doggett: next year's targets. just as a child removes aining wheels after becoming comfortable cycling or tries the shallow end of the pool before moving into the deep end, so, too, we can gain experience over these first eight years to move eventually to more traditional cap and trade system. like president obama, i believe

Lloyd Doggett

0:14:03 to 0:14:24( Edit History Discussion )

Lloyd Doggett: that the best approach is one that relies upon a 100% auction. that does not give away to polluters pollute-free dr. peter orszag said giving the biggest thing that happened

Lloyd Doggett

0:14:25 to 0:14:47( Edit History Discussion )

Lloyd Doggett: in the united states. as noted in another recent statement by over 600 economists calling for auctioning all allowances, free allowances do little or nothing to protect families and businesses fro costs. the significant shortcomings of the european cap and trade system are largely linked to the pursuit of this politically

Lloyd Doggett

0:14:48 to 0:15:08( Edit History Discussion )

Lloyd Doggett: easy but very ineffective course. an abudans of free allowances just leads to more price speculation and would hinder the ability of the system to properly reduce emissions. the bill that i'm introducing today represents the type of legislation that i will continue offering, building block by building block to help us achieve a comprehensive

Lloyd Doggett

0:15:09 to 0:15:30( Edit History Discussion )

Lloyd Doggett: solution. next will be a plan that i will advance to ensure the competitiveness of american importers and exporters in a new energy economy. i'm pleased this legislation enjoys support from a number of blue dog members of their coalition, representative jim cooper and representative heath shuler as well as members of

Lloyd Doggett

0:15:31 to 0:15:51( Edit History Discussion )

Lloyd Doggett: other caucuses here in congress and a broader array of business interests such as a national venture capi last week speaker pelosi brought together key house committee chairs to sign a statement that they are uniting behind one bill to achieve our shared goal with president obama of a more accessible, affordable health care system

Lloyd Doggett

0:15:52 to 0:16:12( Edit History Discussion )

Lloyd Doggett: for every american. . today's bill represents one new element of that broader legislation that must be developed through cooperation and collaboration of the house energy and commerce and ways and means committees, as well as i believe that a role exists for

Lloyd Doggett

0:16:13 to 0:16:25( Edit History Discussion )

Lloyd Doggett: every member of of this congress who is willing to work in good faith based on good identifiens to -- and reduce the real threat of global warming. the more members we bring together, the more successful we

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