May 22--The American Clean Energy and Security Act unveiled this week is not perfect, but it's a smart step toward reducing carbon emissions without destroying American industry and jobs.

Sponsored by U.S. Reps. Henry Waxman, D-Calif., and Ed Markey, D-Mass., the bill establishes a strong carbon cap that such groups as the Environmental Defense Fund and the Southern Appalachian Law Center have long sought. Additionally, it has garnered support from the power companies that burn coal to generate electricity, including Dominion Resources, American Electric Power and Duke Energy.

The power companies recognize that the Waxman-Markey bill gives them time to gradually reduce carbon dioxide, a greenhouse gas that can be regulated by the U.S. Environmental Protection Agency. The bill also promotes renewable energy sources such as wind, solar and geothermal; sets low carbon fuel standards for cars; and establishes banking and borrowing of carbon allowances for future years.

Still, it has its opponents, who suggest that Americans will see increased power bills ranging from $1,600 to $3,100 a year.

The obvious truth: Energy costs will increase due to new environmental safeguards in the bill, but no one truly knows by how much.

Yet another truth: Congress must act or the EPA will, and the agency cannot take economics into the equation. That's why business, after dragging its feet and denying for decades that global warming exists, is getting on board. Industry might not welcome a carbon cap, but some leaders fear an EPA regulation would be even more restrictive.

We definitely want more clarity on the potential costs, but a carbon-cap-and-trade plan is a good way to begin reducing carbon emissions. A similar plan has virtually eliminated the acid rain problems once attributed to American coal-fired power plants. Scrubbers at those plants now remove about 90 percent of the compounds that turn into sulfuric acid or nitric acid when mixed with precipitation.

We also believe this bill is a good bridging mechanism to the future: It will reduce carbon emissions from power plants until carbon sequestration technology is perfected, a goal that is still several years away. Coal is the cheapest, most-plentiful energy resource we have, and finding ways to use it cleanly is key to a successful future energy policy, particularly because half the power generated in the U.S. is generated by burning coal.

U.S. Rep. Phil Roe, a Republican who represents Tennessee's 1st District, is not a fan of the cap-and-trade policy.