On Thursday, the Private Sector and Consumer Solutions to Global Warming and Wildlife Protection Subcommittee of the Senate Committee on Environment and Public Works, chaired by Joe Lieberman (I-Conn.), will markup S. 2191, the Lieberman-Warner cap-and-trade climate legislation.
The LA Times calls for Congress to implement “simple carbon taxes that would assess polluters for the cost of their environmental damage and offset the resulting economic pain by lowering other taxes”, and failing that, 100% auction. The Roanoke Times supports L-W but calls for a tighter cap, citing UCS. The Center for American Progress, in an article primarily about the California wildfires, calls for these changes to L-W:
- Mandating that new coal fired power plants reduce their pollution by 85 percent using carbon and capture storage technology.
- Providing significantly more resources to protect people in Africa and Asia at risk from global warming impacts.
- Requiring all emitters to purchase allowances that allow them to emit greenhouse gases.
The Great Falls Tribune takes a look at the Montanan perspective, noting Baucus’s scripturally based support for the bill, the no-till agricultural offsets, allowances for rural electric cooperatives, CCS incentives, and the weak cap targets. The Helena Independent Record has more of Baucus’s perspective.
MarketWatch notes that hundreds of billions of dollars are at stake, noting that environmentalists are calling for 100% auction and that US-CAP has avoided a stance, and links to the CBO report from this spring, Trade-Offs in Allocating Allowances for CO2 Emissions.
The Politico takes a look at the lobbying on L-W. Note to the Politico: “allocate” is not “legislative slang for ‘give away’”—auctions and free distribution are the alternative methods of allocation.