President-Elect Barack Obama outlined a bold new policy direction for the US to slash greenhouse emissions 80% by 2050. He stated his intention to implement a "cap and trade" system whereby countries agree to cut carbon emissions but allow industries to buy and sell credits to reduce the financial burdens of meeting those goals. His address comes a month before a new Kyoto Protocol for curbing emissions worldwide is to be negotiated in Poland. The US under the Bush administration has resisted global agreements to aggressively reduce global warming.
Here is Obama's address; This video highlights Obama's energy and environment transition team:
