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Agressive climate bill unleashed in Senate, making reduction easier and cheaper
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Senate to hear aggressive new bill.Photo:AP/AftonAlmaraz
The Senate meets today as two climate action proponents prepare to introduce an aggressive, new climate-change bill. The 800 page bill is sponsored by California's Barbara Boxer and John Kerry of Massachusetts.
In comparison to the climate change bill that was passed by the House last June, the Senate bill makes bigger, earlier emissions goals, calling for a 20% reduction of greenhouse gas emissions by 2020, and 83% lower emissions by 2050, reports National Public Radio (NPR).
The Senate bill also has a "Cap and Trade" section that stands to be a major point of contention. Cap and Trade legislature sets an emission limit and gives credits to companies who produce less greenhouse gas, that can be traded or sold to other companies who produce to much. Carbon producing industries, such as utility companies and coal refineries, are given emissions permits that allow them to produce a set amount of greenhouse gas per year, if more are needed they must be purchased. The House bill outlines specific industries and benefactors that would receive the free permits, that are worth billions, while the new Senate bill leaves that for further discussion. A lobbying battle is expected to ensue, as companies fight for a bigger share of carbon allowance.
Political opponents of Cap and Trade see it as a massive tax that will increase energy prices. According to a report by the New York Times, the Senate bill contains provisions that will prevent large-scale energy price increases. It creates a reserve of emissions allowances that can be used if prices spike. Blogger comments in response to the bill were mixed, one person under the name Juleso, says Global Warming is a myth and the new bill is a "fraud that will put us all in the poorhouse". However, NPR says that the bill is likely to be approved, at least by some committees, despite GOP opposition.
Sponsor John Kerry says he is working to change the language associated with the bill in order to gain more momentum. He says it's not a Cap and Trade bill; It's a pollution reduction bill.
Click here for other articles on the Senate Bill: www.npr.org/templates/story/story.php and www.nytimes.com/cwire/2009/09/28/28climatewire-boxer-kerry-set-to-introduce-climate-bill-in-43844.html
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