Climate Change Legislation

It's hard to keep tabs on Congress' moves regarding climate change legislation. Here's a recap of last week and if anyone has tips on getting updates, let me know. I've been following E&E news (Energy and Environment). Obama spoke in front of the Business Roundtable, a group of CEOs, last week in Washington voicing his continued support for cap-and-trade and 100% auction of allowances. Several articles in the Wall Streen Journal last week--particularly two editorials come to mind-- that spoke bitterly against cap-and-trade calling the program nothing but a tax in disguise. Congress is reviewing proposed bills now and anticipates debating on climate change legislation beginning in the spring. Waxman aims to have a bill through the house by Memorial Day. Reid in the Senate is looking into a combined energy and climate change bill and hopes to have a bill on the Senate floor by the summer or year end. Congress in general has claimed they will pass a cliamte change bill this year before the UN conference in Copenhagen, Denmark in Dec 2009. I have heard environmentla lawyers claim that the U.S. cannot go to the next UN meeting making the same mistake of not signing a Kyoto Protocol. In the next meeting, they will discuss the successor protocol to Kyoto, which expires in 2012. Will the U.S. or China, the 2 largest GHG emitters, finally sign or take a larger step beyond passive commitment? Furthermore, Barbara Boxer, Chair of the Senate Committee on Environmental and Public Works, who had added an amendment to the Lieberman-Warner bill and is very aggressive about acting rapidly on climate change policy, has published 6 principles which were basically vague hints of her preference of a bill: "to create short and long-term emission targets," "to reduce emissions to scientifically recommended levels." An E&E article reported that she said she could have a bill ready tomorrow if she wanted, but she's considering letting the House propose one first. USCAP, a group of electric companies, environmental groups, and other companies, published the "Blueprint" which lays out for Congress what they feel are suitable design and emission reduction targets for the country.

More to come...keep watching out for any Congressional developments.