Tuesday, June 3, 2008

Heated Exchange

Is the US Ready to Put a Price on Carbon?
Zachary Coile, SF Chronicle, June 3, 2008

The Lieberman-Warner bill titled the "Climate Security Act" (S2191) began debate in the Senate this week. The bill's aim is to reduce US carbon emissions by nearly 70% by 2050. President Bush has already threatened to veto it, but it is unlikely to reach his desk. Senate Democrats acknowledge the bill has little chance of passing, but believe the debate will increase the chances for passage in the next Congress. The bill would require about 2,100 major U.S. emitters - mostly coal-fired power plants, oil refineries, and chemical plants - to pay for the right to emit carbon dioxide and other greenhouse gases. Proceeds from selling or trading those permits could total over $6 trillion over the next 40 years, and would be reinvested in renewable energy and rebates to consumers.

Read more here: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/03/MNPU111UGU.DTL

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