Senate Climate Bill Will Aim at 20 Percent Greenhouse Gas Cuts by 2020
Published September 29, 2009 @ 03:31PM PT

The introduction of a Senate climate bill appears to still be on track for tomorrow. The measure will target a 20 percent emissions cut below 2005 levels by 2020, and 83 percent by 2050 -- sharper than the House bill. It will also keep the price of carbon allowances at or below $28 per ton of carbon.
This and more from The Washington Post, which has posted what it calls a "close-to-final version of the bill." The legislation is still under revision, reports the Post, but "will make it easier for businesses to compensate for their carbon pollution by expanding the available pool of domestic offsets by 40 percent compared to the House-passed climate bill."
No specifics on how those allowances will be allocated, however; perhaps Sens. Kerry and Boxer are leaving that space open for the inevitable battle to come.
The bill will also contain provisions to protect the Environmental Protection Agency's authority to regulate greenhouse gas pollution -- recently targeted for elimination by Sen. Lisa Murkowski (R-Alaska) -- as well as getting communities of 200,000 or greater population to work toward energy-efficient transportation, by undertaking planning for public transportation and bicycle paths.
The legislation will also include "provisions aimed at curbing speculation in the carbon market -- a concern of senators such as Byron Dorgan (D-N.D.) -- and would reserve some carbon allowances in a market stability fund that would help ensure the price of carbon would not exceed $28 per ton. This provision, known as a so-called "carbon collar," would not be likely to kick in for some time, since the Congressional Budget Office has predicted the cost of carbon under a cap-and-trade system would likely be $26 per ton by 2019."
Opponents to climate action are quoted at length in the article, including the president of the US Chamber of Commerce. Thomas J. Donohue tries to soft-pedal his group's recent call for a "Scopes monkey trial" on climate science in the wake of some high-profile member defections, including utilities Exelon and PGE.
The Senate Finance and Agriculture committees also have jurisdiction over the bill, so expect a tough fight to water down its strongest provisions. "This very well may be the high-water mark for strong action on climate in this Congress," said Clean Air Watch head Frank O'Donnell told the Post, "since it will face many efforts to erode it as it moves through the Senate."
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"A Global Green New Deal" 1. The Need For Change In Energy Platform : A. About two thirds of deficit in the U.S. accrue from oil import. B. Over $1 trillion and 4,346 dead as the Iraq war is winding down. By converting this excessive military budget into a constructive foundation of 21st energy and health care, world can live in harmony for good. C. Tremendous trade deficit with China. The most expensive premiums of health care driving buyers into Wal-Mart . D. Provided the average temperature is getting higher, accordingly all forms of germs, viruses, and influenza etc are more likely to multiply.
Some skeptics say the warning against hazards of climate change is overstated, but judging from more frequent and widespread outbreaks of e. coli, salmonella, and bird, swine flu cases endangering human lives and economic recovery seriously, some prompt measures need to be taken, I guess.
2. The Cost Of Inaction : As with "Inaction" cost, $9trillion over the next decade in Medicare, Medicaid and Social Security, supposedly the same is of inaction on the 21st energy bill to determine war & peace, catastrophe & prosperity. In this economy, fuel price is hovering around $65 to $75 a barrel, which underscores the actual value might be much the same as $145 per barrel of the peak price. Last year, the petrol price jumped from about $60 to $145 per barrel in quite a short period. I think energy market also needs competition between sustainable and conventional one to bend the cost curve, otherwise, the global economy stays flat for some time and is plummeting into another great depression as the international stimulus package can't last long. 3. The Root Of Recession : My sense is that this great recession is ascribed to excessively higher price of petrol in recent years. This price spelled about higher consumer prices and the continued hike in mortgage rates as a way to slow inflation, which wound up with crash in financial and construction markets. In an attempt to circumvent the censure of two petrol wars, the mainstream economists put focus on the both markets, and it postponed the prompt action on the long and long overdue contemporary energy needs. Looking to worthless, painful and wasteful oil wars, to waste time bickering over meaningless things and drag feet on a defining energy bill are sure to shake the embryonic effect of stimulus package that is an interim measure for build-out of a new foundation. As the overall oil reserve in Middle East, let alone the rest of oil-producing areas, is on the decline more than known, the region blessed with affluent sun rays also needs to lay a new groundwork, particularly in this context UAE is beginning to concentrate on future energy and Iranian EV is rolling out recently, the countries in the region will never stand still on the occupation, that means no matter what the result is, the repetitious mistake at the cost of invaluable lives and gigantic spending will end up with an irreversible tragedy later on. 4. Hope For Better Change & Job Boost : As a major driver, IT industry stalled and stranded in a game industry for the lack of 21st energy policy over the stretch of two wars needs to expand into the all but indefinite energy, medical, and academic industry where the investors are eagerly waiting for policy-makers to act now, which I guess is why the far-reaching and long overdue health care and 21st energy bill have come into focus. Thankfully and interestingly enough, 100s of Companies (with $13 Trillion) Are Demanding Strong Climate Deal in Copenhagen just like environmental activists, a coalition of more than 500 Global Businesses is also demanding ambitious new climate deal, and the report by Blair and the Climate Group, a London-based nonprofit organization, found a climate-change accord among all countries would spur economic growth and create as many as 10 million jobs by 2020. Beyond the report, according to a new report published by the Global Climate Network of think tanks, "A Global Green New Deal" could create tens of millions of new jobs by agreeing to invest in low carbon technologies. This research shows that while jobs will be lost in conventional, carbon-intensive sectors, more jobs will be created than lost provided that policies to promote sustainable industry are ambitious enough and it is one of the most effective means of handling rising unemployment.
It concludes that measures to creating markets for low carbon technologies will serve the dual purpose of creating extra jobs in renewable energy, information technology and service sectors, as well as helping reduce greenhouse gas emissions.
5. Funding For Hopeful Change :
A. Converting the excessive and destructive military budget into constructive financing for the 21st energy.
B. Phasing out subsidies for carbon-intensive industries, and taxing carbon emissions.
C. For the most part, the poor regions ranging from Africa to South Asia severely affected by climate change are abundant in sun rays, and the compensation by way of placement of large solar plants as well as the other measures could generate enormous effects.
D. The Congressional Budget Office released an analysis of the effects of House bill, concluding that in 2020 the bill would cost the average family only about $175 a year. This is 48 cents per day –- a little more than the cost of a postage stamp.
The budget office also predicts that real G.D.P. will be about two-and-a-half times larger in 2050 than it is today, so that G.D.P. per person will rise by about 80 percent. The cost of climate protection would barely make a dent in that growth
6. Promising And Enough Tech In The Work :
In brief, only technology and innovation can meet the challenge, and the world of science has potential enough to get past this turbulence and for all over the globe to go along in harmony. Recently, GM and Reva that achieved a fantastic innovation of "wireless electricity"/ "instant remote recharge" have joined hands to develop Electric Vehicles.
In the near term, improving energy efficiency needs some up-front investments, though, in the long term, it promises much better future, and the current tech is sure to do better enough. Thank You !
Posted by hsr0601 han on 09/29/2009 @ 04:43PM PT
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Consider the Connection to:
Going in a NEGATIVE (-) or POSITIVE Direction
More greenhouse gas is a NEGATIVE direction
We all inhabit different moral galaxies "yet"
we are all interdependent pieces of the same puzzle,
inhabiting the same planet.
(-)___or___(+) The choice is ours.
The earth is in the balance!!!
Search 4 me:
CTC123GREEN
Posted by Jerry Mayeux on 09/30/2009 @ 05:03AM PT
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And just today, Nike resigned the Chamber's board over differences regarding climate policy. That Scopes-trial comment was pretty offensive to a lot of people and I hope it demonstrates that anti-science statements don't have a place in mainstream political rhetoric.
Thanks,
Aaron
Posted by Aaron Huertas on 09/30/2009 @ 09:29AM PT
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