US to adopt greenhouse gas cap and trade scheme
The Austin Chronicle is reporting some Climate change news
Last Tuesday, Rep. Henry Waxman of California introduced the Safe Climate Act (HR 5642), a so-called long-term, science-based solution to global warming. The measure would freeze U.S. greenhouse gas emissions in 2010 at 2009 levels and cut emissions by roughly 2% per year beginning in 2011, reaching 1990 emissions levels by 2020, and then cutting emissions by about 5% per year, resulting in 2050 emissions levels 80% lower than those in 1990.
Austin Rep. Lloyd Doggett signed on as an early sponsor. The act directs the EPA to set a cap on greenhouse gas emissions from the largest polluters, allowing them to buy and sell emissions allowances. The measure would also mimic California’s strict motor vehicle emissions regulations and would direct the Department of Energy to establish an increasing national renewable energy standard, initially requiring 20% of U.S. electricity to come from renewables by 2020. At press time, the bill had been referred to the House Energy & Commerce and International Relations committees.
Wow, it’s pretty exciting if this actually passes. — DS
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