September/October 2008 / Cover Story
Climate Change Legislation Proceeding Slowly
By Joseph C. Stanko, Jr., Mark W. Menezes and David J. van Hoogstraten
Over 100 hearings and the introduction of 50 separate bills has thus far yielded no Congressional action to address greenhouse gas emissions. In June of this year, the Senate's showpiece legislation, the Lieberman-Warner Climate Security Act, fell a dozen votes short of the 60 votes required to prevent a Republican filibuster.
A bipartisan group of ten coal state senators have announced their intention to caucus together as a way of forcing changes in future legislation. The group is likely to emerge as a swing contingent whose views must be addressed. They want mechanisms to contain costs to industry as energy prices rise and national economic stresses grow. If a cap-and-trade system is adopted they want a price safety valve, which would provide relief to the market by setting a maximum price for emission allowances.
On the House side, many bills have been introduced and hearings held, but no action has been taken. Rep. Ed Markey (D-MA), has intoduced legislation more rigorous than the Lieberman-Warner bill. Key committee chairs and carbon state representatives John Dingell (D-MI) and Rick Boucher (D-VA) have released a series of white papers outlining issues that will have to be addressed. No comprehensive climate change legislation appears likely to get to the floor this year.
Both presidential candidates say they support cap and trade.
