April 1, 2009
Waxman-Markey Discussion Draft on Energy and Global Warming: the AMERICAN CLEAN ENERGY and SECURITY ACT
Reps. Waxman and Markeyhave released a discussion draft bill on clean energy and global warming. Here is a Summary of the Discussion Draft and here is a copy of the Bill The global warming title establishes a cap and trade with a cap of 83% reduction from 2005 emissions by 2050. Obviously this falls far short of what is needed to reach 350 ppm. It also provides for the US to enter into international agreements to reforest, which is expected to reduce an additional 10% by 2050. The discussion draft ducks the highly political question of allocation.
The bill contains three other titles:
Creating Clean Energy Jobs: A clean energy title that promotes renewable sources of energy, carbon capture and sequestration technologies, low-carbon fuels, clean electric vehicles, and the smart grid and electricity transmission;
Cutting Waste, Saving Money: An energy efficiency title that increases energy efficiency across all sectors of the economy, including buildings, appliances, transportation, and industry;
Protecting Consumers: A transitioning title that protects U.S. consumers and industry and promotes green jobs during the transition to a clean energy economy.
The time table for action calls for the House Energy and Commerce Committee to complete consideration of the legislation by Memorial Day. The preliminary schedule follows:
· Week of April 20: Energy and Environment Subcommittee Hearings
· Week of April 27: Energy and Environment Subcommittee Markup Period Begins
· Week of May 11: Full Energy and Commerce Committee Markup Period Begins
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