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Silicon Valley venture capitalist John Doerr, who helped launch companies like Amazon.com, Symantec and Google, told the Senate Environment and Public Works Committee on Thursday that the United States has led the world in high-tech innovation but distantly trails China on clean energy because existing policies "haven't given us any clear, long term market solutions." The key is cap-and-trade, he said. He urged senators to send a long-term signal that low carbon energy is valuable. "We must put a price on carbon and a cap on carbon emissions. No long-term signal means no serious innovation at scale, which means fewer new American success stories," he said in testimony.
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