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

Bird Groups Target LEEDCo's Icebreaker Offshore Wind Pilot

Two bird conservation groups that helped halt a wind project earlier this year argue that Lake Erie Energy Development Corp.'s (LEEDCo) 18 MW offshore demo poses a major risk to regional wildlife.


Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.

JLG_id1900
WomenofWind_id
UEA_id1896
Acciona_id1907
AWEA_id1886
bonfiglioli_id1913