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House Democrats release climate and energy legislation

Includes a cap and trade system and requires a 20 per cent cut in carbon emissions by 2020


 

House Democrats release climate and energy legislationRemember Henry Waxman, the congressman who wanted to ban the US government and military from purchasing oil sands oil? He is now the chairman of the House Energy and Commerce Committee and has co-authored and today released a draft of the Democrats’ new climate and energy legislation. You can read the text on the committee’s web page.

The draft legislation includes a cap-and-trade system and requires the US to cut carbon emissions by 20 percent by 2020. American utilities will have to source one quarter of their electricity from renewable sources by 2025. The draft legislation does not answer the key question of whether industry will have to buy carbon permits or whether some will be given to them for free. That will be up to the committee to decide.

Reuters also reports that the legislation would “give industry ‘rebates’ so U.S. firms can remain competitive with overseas companies.” I haven’t seen an analysis yet of how this proposal affects Canadian producers or renewable and non-renewable energy.

Hearings on the proposed law begin the week of April 20th. House leaders tell the NYTimes that they hope to pass the law by fall. Given high economic stakes involved at a time of recession (and regional interests that cut across party lines) that sounds a tad optimistic.


 

House Democrats release climate and energy legislation

  1. Oh brother.

    Conservative, you really need to stop watching Fox News all day or listening to Rush – or worse.

  2. Very Swiftian, but not carried far enough.

    • I’m sure you’ll find a way. In fact, I look forward to it!

      Technically though, she’s right. She didn’t specify how many hours. We have seconds, minutes, hours, weeks, months, and years….

  3. ROFL – LMAO there is more information about offsets than anything else so far in this proposed legislations (for those not in the know this means a way to buy yourself out of trouble and fill gov’t coffers at the same time) ps: rumour has it by the time this bill passes there will be some tiny teeny little paragraph see subsection B appended addendum D ; subject to and not withstanding targets based uintensity until bla bla bla then 2020 : PS: hey folks great news guess where they want a lot of clean energy to come from that they will have to have on the grid – you got it boys and girls canadian hydro – jee no kidding.

    • Where’s the new hydro coming from Wayne, you live in BC, you know they’re expecting a future power shortage – well, they were.

      • you really don;t know do you? hint email Jean C. and ask him or better yet Danny Boy

        • I’m a westerner, just forget myself sometimes. I don’t know if that will be so clearcut as in the past. You can only damn so many rivers before you get push back – it’s already happening.

          • Hey I’m a van islander myself = Where The Rock Meets The Water – – we too will be getting a share as King Gordo wants to move big on the energy file and has already been moving resources around not only to significantly increase our big boy damns but run of the river as well in point of fact it is one of the reasons he is moving hard on giviing the first nation bands more poltiical juice as they are interested and are applying as I type this.

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