Deal Is Near On CO2 Bill | May 18, 2009 Issue - Vol. 87 Issue 20 | Chemical & Engineering News
Volume 87 Issue 20 | p. 32 | Concentrates
Issue Date: May 18, 2009

Deal Is Near On CO2 Bill

Department: Government & Policy
News Channels: Environmental SCENE

Democratic Party leaders of the House Energy & Commerce Committee announced the outline of a compromise on legislation to reduce U.S. carbon dioxide emissions on May 13. The compromise modifies legislation introduced in April that would cut CO2 emissions 83% by 2050 on a phased schedule. It would call for reductions from electric utilities, chemical firms, and other industrial sources, as well as vehicles. Companies would have to purchase allowances to emit CO2, but the compromise provides incentives and aid to industrial sectors with high emissions. Some 35% of the allowances would be given away in the program's early years to electric utilities, and 15% would go to "energy-intensive industries that compete in global markets," according to the committee. In 2025, the President would determine whether these free allowances should continue. At C&EN's press time, the compromise bill had not been released and details were still under debate. Negotiations among Democratic Party members are likely to continue during committee markup of the bill, which will begin this week. Committee Republicans oppose any cap-and-trade bill, according to committee minority leader Rep. Joe Barton (R-Texas).

 
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