Jason Barton

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Archive for the ‘Senator Bingaman’ tag

As Senate Trio Advances Climate Measure, Energy-Only Bill Remains a Possibility

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After a week’s hiatus in the Brazilian backcountry, I’ve returned to my computer to find some recent developments in Senate efforts to push forward with some kind of energy bill.

The bill advanced by Sen’s. Dorgan and Bingaman that came out of the Energy and Natural Resources Cmte. can be found here, along with several summaries of different lengths.

By DARREN SAMUELSOHN of ClimateWire
Published: March 18, 2010

Details emerged yesterday on a sweeping Senate energy and climate proposal just days after three senior Democrats huddled to discuss alternative ways to tackle the issue later this spring on the floor.

Under pressure to quickly produce a bill, Sens. John Kerry (D-Mass.), Lindsey Graham (R-S.C.) and Joe Lieberman (I-Conn.) yesterday shared an eight-page outline of their draft plan in a closed-door meeting with major industry groups.

[…]

Overall, the bill will include eight titles: Refining, America’s Farmers, Consumer Refunds, Clean Energy Innovation, Coal, Natural Gas, Nuclear and Energy Independence, according to sources. And it would set up new nationwide standards for energy efficiency and renewable energy, and include ideas on carbon market regulation crafted by Sens. Maria Cantwell (D-Wash.) and Susan Collins (R-Maine).

Additional layers of certainty for industry come via a “hard price collar” that limits greenhouse gas allowances to between $10 and $30 per ton tagged to inflation, with an increase at a to-be-determined “fixed rate” over time. The legislation would also set aside a “strategic reserve” of 4 billion greenhouse gas credits that could be released into the market to help control price volatility fluctuations.

[…]

“Directionally speaking, the way they’re trying to conform and shape this bill I’d suggest is largely in sync with what most people in American industry think is the direction you’re going to have to go if you’re going to have a successful program,” said Bruce Josten, executive vice president for government affairs at the U.S. Chamber of Commerce. “Now there’s a lot of ifs, ands and buts, but if you’re asking for a broad statement, that’s a broad statement.”

Read the entire article here.