CHICAGO, Nov. 19: Promising a $15 billion annual catalyst investment fund to build a clean energy future, President-elect Barack Obama has sought help from countries like India to launch a "new era" of global cooperation to combat climate change.
"My presidency will mark a new chapter in America’s leadership on climate change that will strengthen our security and create millions of new jobs in the process," Mr Obama said in a surprise video message to a bi-partisan Governors’ Global Climate Summit in Los Angeles.
"Too often, Washington has failed to show the same kind of leadership. That will change when I take office."
The Democrat, who had made climate change a major issue in his historic run for the White House, said his administration will start with a federal cap and trade system.
"We will establish strong annual targets that set us on a course to reduce emissions to their 1990 levels by 2020 and reduce them an additional 80 per cent by 2050," he said.
The US will invest $15 billion annually to catalyse private sector efforts to build a clean energy future, Mr Obama said. "The science is beyond dispute and the facts are clear. Sea levels are rising. Coastlines are shrinking," he said and pointed out that Washington alone cannot combat climate change.
"The US cannot meet this challenge alone. It will require all of us working together." —AP
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‘US to engage N. Korea without preconditions’
Washington, Nov. 19: The incoming Barack Obama administration will engage North Korea directly without preconditions to persuade the Communist state to abandon its nuclear ambitions, according to a policy plan issued by the presidential team.
"Obama and Biden will pursue tough, direct diplomacy without preconditions with all nations, friend and foes," said the Obama-Biden Plan posted on the website of the transition team. "They will do the careful preparation necessary, but will signal that America is ready to come to the table and is willing to lead." —Yonhap
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CBO chief is likely pick as budget chief
Washington, Nov. 19: President-elect Barack Obama appears to have settled on Congress-ional Budget Office chief Peter Orszag to be his budget director, Capitol Hill Democrats said on Tuesday.
It’s among the toughest jobs in Washington, but Democratic aides say Mr Orszag seems likely to accept if it is offered. The 39-year-old CBO chief has been reluctant to leave Capi- tol Hill’s budget agency in the middle of his four-year term but would find it virtually impossible to turn down a request from Mr Obama, they said.
—AP
