Posted by: mstermitz | June 25, 2009

President Weighs In On Climate Bill

President Obama today spoke from the White House, urging passage of the massive federal climate change bill, and focusing on the message that it would create new green collar jobs. As the AP just reported, the President and Congressional Democrats are apparently worried the bill at this time lacks the votes necessary for passage.

The 1,000+ page proposed legislation, the “American Clean Energy and Security Act,” (or the Waxman-Markey bill), seeks reductions in greenhouse gas emissions of 17% below 2005 levels by 2020, and institutes a wide-ranging cap and trade program to control nearly all air discharge permits for greenhouse gas emissions. Under the program, some credits for discharge permits would be auctioned off, but the vast majority would be given away.

The fate of this groundbreaking legislation is uncertain and within the next few days could include anything from outright rejection to passage as is, to further modification. There is no doubt EPA has received and is undertaking new direction on the climate change front that will include some form of greenhouse gas regulation, but that will of course be limited to the arena of administrative regulation, which will have neither the legal nor political force that an act of Congress would provide.

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