House Energy and Commerce Committee Chairman Henry Waxman, D-Calif., and Energy and Environment Subcommittee Chairman Edward Markey, D-Mass., just released draft legislation aimed at addressing global warming and increasing the use of renewable energy in the United States. The 600-page proposal includes everything from a comprehensive program to cut greenhouse gases to mandates requiring the production of low-carbon transportation fuels and the use of renewable sources of electricity.
Does it make sense to combine the climate and energy proposals into one package? What's the best thing about the proposal? What part is guaranteed to draw the most opposition? Can it get to President Obama's desk?
Source: Margaret Kriz, NationalJournal.com
Eileen Claussen, Pew Center on Global Climate Change, says, "Let’s get one thing straight: Though not perfect, we like the way President Obama and his team are addressing the potential catastrophe of climate change."
Jim Rogers, President and CEO of Duke Energy says, "The Administration unequivocally accept the underlying science. They realize that the cost of not acting will be far greater than the cost of taking responsible action – and that the longer we wait, the greater the costs will be for American consumers. Their emissions goals are ambitious but achievable, as is the timetable to meet them. And we agree that cap and trade is the right way to go. It’s based on common sense capitalism: it puts a price on carbon and rewards facilities that can reduce carbon dioxide and other greenhouse gases at the lowest cost, even as it provides incentives for others to find more economic ways to reduce their own emissions."
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