RSS
Home
Waxman-Markey bill close to vote
Print
Email
RSS
Subscribe
.jpg)
Watch this space
A hotly contested environmental bill on climate change, proposed by Henry Waxman (D-California, 30th district covering much of LA) and Edward Markey (D-Massachusetts, 7th district), could go to vote as early as Friday the 26th. The Waxman-Markey bill that could set up a carbon cap-and-trade system in the US, meant to cut pollution and boost incentive in the burgeoning green economy.
Given the importance of the bill, opposing sides have taken their arguments to the extreme both pro and con. Those who are strong proponents of a cap-and-trade system see it as a necessity to prevent pollution, that left unchecked, will lead to human extinction. To big business the legislation will create a system that will lead to economic devastation for America. Emotion is clouding the debate, leading to statements like these that espouse doomsday scenarios.
The fate of the bill is still up in the air with an estimated 82 “fence sitters” in the House of Representatives not making clear their intentions on the bill. The divide is along party and geographic lines with Democrats in the Northeast and most of the West supporting the bill. Southern Republicans and some GOP members from California want to kill the bill or water it down as to render it useless.
The partisanship on the issue of global warming is exposed on the stances taken on this bill. Despite overwhelming scientific opinion, research and data, many Republicans refuse to believe that global warming exists. Republican House Minority Leader John Boehner called climate change “comical” in an interview with George Stephanopoulos on ABC News. Whether this disbelief in science is genuine or is influenced by external forces like political backing by the coal and oil industries is debatable.
The rest of the world has come to accept the threat posed by global warming and has already passed legislation in an effort to stem the rise of the world’s temperature and sea level. Overseen in the American political debate is that Europe has had a cap and trade system since January of 2005. While some argue that the legislation is imperfect due to the amount of carbon credits given away for free, it was a trailblazing piece of legislation that US lawmakers could use as a baseline and improve upon. Logic dictates that the lawmakers should use the ideas that have worked in the European Union carbon trading scheme over the past four years and make changes to improve on the imperfections.
Once again Congress is behind the curve when it comes to legislation that would spur the growth of the clean energy sector, green architecture market and renew the stewardship of the environment. If the bill does not pass the US will stumble further behind in the renewable energy field. Just as bad (if not worse) would be a watered down bill. This scenario offers no substantial restrictions on polluters, hence no incentive for investing in new energy markets that will create green collar jobs and reduce pollution levels.
The success or failure of Waxman-Markey will have huge implications for the energy sector.
Related Articles:
Comments
