Environment and Energy
Climate Change Bill Passes House
Last Friday the American Clean Energy and Security Act (Waxman-Markey Climate Change Bill) passed the House by a seven vote margin, 219-212. 44 Democrats opposed the measure, 8 Republican voted in favor. President Obama is urging the Senate to take up debate about the bill quickly. The bill would implement a cap-and-trade system to regulate CO2 emissions.
If you are getting up to speed on this important issue, here are a few articles you should read:
This Reuters piece offers an overview of the bill's basic provisions - FACTBOX: Key energy elements in U.S. climate bill
For info on tariffs and protectionism in the legislation, check out this article from the Washington Post - Obama Praises Climate Bill's Progress but Opposes Its Tariffs
For info on how CO2 credits were allocated and the impact on that would have on utility and oil companies, read this Bloomberg article - Climate Bill Helps Utilities More Than Oil Companies
For thoughts on the political ramifications of this bill, check out this Politico article: Climate change bill: Obama's must-win
NAM - The National Association of Manufactures - opposes Waxman-Markey. Click to access their Climate Change Toolkit which includes a pdf of their letter to Congress opposing the legislation.