Edwards endorses the widespread goal of 80% reductions of greenhouse gas emissions below 1990 levels by the year 2050. He has denounced the Bush administration for not signing the Kyoto treaty and supports the McCain-Lieberman bill to establish a cap-and-trade system to reduce carbon dioxide emissions. This would involve capping emissions, reducing the cap every year, and auctioning off the right to emit a certain quantity of greenhouse gases. He would then use this estimated $10 billion to fund research for alternative energy sources, in an effort to end the United States reliance on imported foreign oil.