Monday, June 20, 2005
Apparently the Chair of Senate Energy and Natural Resources Committee, Senator Pete Dominici (NM), is likely to support Sen. Bingeman's carbon dioxide emissions amendment. The Bingeman amendment will be offered only after a vote on the McCain/Lieberman amendment. McCain/Lieberman requires a cut to 2000 emissions by 2010 and encourages replacement of aging nuclear plants. Bingeman does not cap emissions, but caps the ratio of emissions to economic growth -- but sets a $7 ton limit on allowances, far below the European market price. Could it be that the United States will take some action to reduce greenhouse gas emissions prior to the G8 meeting??? Stay tuned.