Climate change bill passes House
The House passed the landmark climate change bill, which now heads to the Senate.
The U.S. House of
Representatives narrowly passed a sweeping climate change bill today that will
significantly change the way Americans use and produce energy, reports a story
by Reuters .
The American Clean Energy
and Security Act (ACES), which passed on a 219-212 vote, now moves to the
Senate, where experts predict another battle. Following intense last-minute
wrangling among its members and lobbying from President Obama, the House of
Representatives passed potentially landmark legislation June 26 that seeks to
reduce the release of carbon dioxide by making industry pay for its emissions.
The Democrat-sponsored American Clean Energy and Security Act of 2009 passed by
a razor-thin margin, with 219 votes in favor, including eight from
Republicans--just one more than the minimum needed, reports Forbes .
According to BNet, here are some highlights and a few of the compromises.
- Clean energy technology. The bill provides $90
billion by 2025 for clean energy technology and energy
efficiency, $60 billion for carbon capture and sequestration and $20
billion for electric and other advanced technology vehicles.
- Solar, wind. A renewable energy standard has
been established that will require 20 percent of all U.S.
electricity to come from alternative sources by 2020. This mandate
opens up opportunities for growth within the renewable energy industry
including solar and wind power.
- Farm states. House Agriculture Committee
Chairman Collin Peterson held the bill hostage until certain compromises
were made. What resulted is a 50-page amendment that among others things
shifts control from the Environmental Protection Agency to
the Department of Agriculture to determine rules for carbon
offsets, a program that would pay farmers for practices that reduce
greenhouse gas emissions. Grist delves into the amendment and
includes all the nitty gritty details.
- Biofuels . Peterson's amendment also requires a
lengthy review, with final results published within five years, of biofuel
regulations. During this five-year review, biofuels emissions
from international indirect land use are exempt.