Energy Bill Brings New Debate to Capitol Hill

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President Barack Obama is gearing up for another fight on Capitol Hill-- this time surrounding climate change.

Speaking Friday at the Massachusetts Institute of Technology, Obama criticized opponents of his energy-saving efforts, saying they "make cynical claims that contradict the overwhelming scientific evidence when it comes to climate change."

"Claims whose only purpose is to defeat or delay the change that we know is necessary," he added.

The House passed climate change legislation in June, but debate on the issue continues.

The president wants a system that limits greenhouse gases and would financially punish companies that pollute the air.

"Nation's everywhere are racing to develop new ways to produce and use energy," Obama said. "The nation that wins this competition will be the nation that leads the global economy."

"I am convinced of that and I want America to be that nation. It's that simple," he added.

Critics say coal-producing plants would be penalized under the president's plan, which would then lead to an increase in the price of electricity.

The Senate Environment committee will draft its version of a global warming bill next week. Obama wants the legislation to cut greenhouse gases by about 80 percent by 2050 and set more domestic energy standards to include renewable sources.

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