The EU already has decided to raise its 20% emissions reduction goal by 2020 to 30% if other rich countries will promise similar efforts. Does the McCain plan meet this condition?

If you look only at the cold figures, the answer would be no. Even without an international agreement, the EU minimum target of 20% is ten years ahead of the US targets in McCain's proposed cap-and-trade plans.

If you look only at McCain's intentions, again the answer would be no. The main target is the US independency from foreign oil by 2025. Although climate change is mentioned a few times, it is only a side-effect of McCain's plans.

Nevertheless, I am not too negative about McCain. In my view, the energy plans of Obama would be a better basis for an international agreement, but from a libertarian view, McCain's could be called rather revolutionary.

Considering that Republican politics in particular used to be averse to any governmental interference in the energy business, McCain is making a giant step. After pushing for clean coal and nuclear, he advocates energy efficiency, clean car technologies and renewables.

Next year, the international climate change community will seek a final agreement on post-Kyoto goals during the Copenhagen climate summit. Apart from the different views on the targets, such a global agreement also has to amalgamate all different kinds of approaches.

The McCain plan shows what the US approach looks like - not too much governmental pressure on industries and citizens, unlike the EU approach.

However, the results could very well be the same. Governmental policies are important, but let's not overrate their influence. Now that energy prices go up, despite governmental policies, the sustainable energy industry further proves its own dynamics. If governmental policies are blocking these dynamics, the bill will be huge.

McCain most likely knows.

Rolf de Vos
Editor in chief
GreenPrices
r.devos@greenprices.com