Whereas the Algore democrats wanted us all to get by with less (ie, lower our standard of living), the pro-business republicans realize that they can make a killing by replacing all of the older, dirty, electric power plants with brand-new, clean, efficient, new ones. I vaguely remember reading about an Enron internal memo which explored this very scenario.
And imagine if the gov't mandates that all motor vehicles on the road today be replaced with new electric/gas hybrids within the next five years. Detroit will be in hog-heaven.
Those invested in certain industries will make a killing. Lots of middle class folks who are employed by these industries will also benefit. Unfortunately, the rest of us will pick up the tab for this latest gov't "full employment act." But then again, I'm a cynic.
And don't forget the adaptations like building dikes around low lying area of Florida. But this is not only good business, it is far less costly to adapt then to kill our economy by not burning fossil fuels. See The skeptical environmentalist for data, fears of flooding are greatly exagerated, because preventing the floods is about 100 times cheaper than allowing the floods and taking the flood losses.
...and Washington would be in the crapper. Folks from the hinterlands would take their old car for one last drive..... To D.C., and park it, walk away and not look back. A few million of those and some folks would be looking for new jobs.