Webb opposes cap-and-trade, pitches 'doable' plan

U.S. Sen. Jim Webb signaled his resistance Monday to the current cap-and-trade legislation in Congress and introduced with another senator a new $20 billion energy bill that focuses on expanding nuclear power and funding research into alternative energy sources.

As legislators debate the merits of the "enormously complex" cap-and-trade legislation that is intended to limit the release of greenhouse gas emissions, Webb said the bill he is co-sponsoring with U.S. Sen. Lamar Alexander, R-Tenn., will "address the areas that are achievable."

Webb also expressed his opposition to the broader Senate cap-and-trade legislation.

"In its present form, I would not vote for it," he told Politico on Monday. "I have some real questions about the real complexities on cap and trade."

Webb and Alexander's proposal would use $10 billion in federal money to leverage up to $100 billion in government-backed loans for "carbon-free" energy projects. The legislation also would spend $1 billion over five years to help bring on line smaller nuclear power plants than are in use today. Another $1 billion would be spent over 10 years for the training and education of the nuclear-industry work force. Also, $500 million would go to research to extend the life of existing nuclear power plants.

The bill would also set aside $1.5 billion over 10 years to research "technologies to reduce nuclear waste."

Webb and Alexander also propose spending $ 6 billion over 10 years to research and develop "low-cost solar technology," "low-carbon coal," bio fuels and battery technology.

"This expansion of nuclear powers and alternate energy is doable. It's reasonable in scope and cost," Webb said in a speech introducing the Alexander-Webb Clean Energy Act of 2009. "It will go a very long way toward our eventual goal of reducing carbon dioxide emissions."

Bill Bartel, (757) 446-2398, bill.bartel@pilotonline.com