in News Departments > Policy Watch
print the content item

Sens. Jeff Bingaman, D-N.M., and Arlen Specter, R-Pa., have introduced the Low Carbon Economy Act of 2007, which is designed to reduce U.S. greenhouse gas emissions while protecting the U.S. economy and promoting interaction with key developing countries in their efforts to control global warming.

The Low Carbon Economy Act of 2007 creates an economy-wide mandatory tradable-permits system that is modeled after the successful U.S. Acid Rain Program, the Senate Energy Committee explains. Because the program sets an annual target and allows firms to buy, sell and trade credits to achieve that target, the bill's sponsors expect the program will achieve the most cost-effective carbon reductions across the economy.

Twenty-four percent of total program allowances will be auctioned by the government to generate revenue for research, development and deployment of low- and no-carbon technologies, provide for climate change adaptation measures and offer assistance to low-income households.

"I believe our legislation represents a strong and balanced approach," says Bingaman. "It will dramatically reduce U.S. greenhouse gas emissions while also spurring new energy technologies, protecting the American economy and engaging developing nations in their efforts to address climate change."


Trachte Inc._id1770
Latest Top Stories

Setting The Record Straight: How Many Birds Do Wind Turbines Really Kill?

Several peer-reviewed studies are more or less in agreement with avian mortality rates caused by wind turbines. However, one study, which is wildly off from the others, is most often cited in the media. Why?


Six Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965
UnitedEquip_id1995