I am trying to wrap up my article on EPA’s GHG rule on stationary sources when I just saw on twitter that the EPA is expecting to announce its guidelines for that rule today. Aarrrrgh!!
So while my article is in limbo, we’ll take a brief look on the newly introduced 1,000 page climate bill entitled “American Power Act” by Senators Kerry and Lieberman.
The bill would impose a cap on US emissions of carbon dioxide and six other greenhouse gases beginning next year and would require a reduction in emissions to a level nearly 5% below the nation’s 2005 pollution volume by 2013. Other brief highlights of the bill (courtesy of ICIS News) include:
- The federal government would auction off emissions permits to electric utilities and industries.
- The bill provided tax incentives and funding for renewed US nuclear power production and encouraged offshore oil and gas exploration and development, although states would be allowed to unilaterally block offshore drilling if necessary.
- The bill would bar individual states and the EPA from regulating greenhouse gases, and it would provide emissions allowances to carbon-intense industries that face competition from foreign producers.
- It would impose a border tax on imports of goods from foreign countries that lacked climate controls and emissions restrictions.
- The measure would provide rebates and financial support to low-income families that would be facing higher utility costs flowing from the cap-and-trade climate mandate.
Here is a video of Senator Kerry himself being interviewed by CleanSkies.com about the bill (as well as his view on the BP oil gush in the Gulf).
Here are yesterday’s various statements from chemical industry groups and companies on their views about the climate bill:
Dow Chemical – thumbs up. Wants Congress to pass the legislation this year.
Shell Oil – thumbs up. Approves inclusion of all energy sources including nuclear, coal, oil, gas, wind…
Dow Corning – thumbs up. Approves renewable energy incentives and reigning of EPA’s authority on greenhouse gas emissions regulation.
National Petrochemical & Refiners Association (NPRA) – thumbs down. Disapproves carbon reduction targets and timetables.
American Materials Manufacturing Alliance (composed of chemical, forest & paper, iron & steel, fertilizer and cement industry groups) - slightly thumbs down. Questions funding for energy costs and states that EPA’s lowered power on GHG rule still not enough.
America’s Natural Gas Alliance (ANGA) – thumbs up. Appreciates inclusion of incentive for natural gas.