Friday, November 20, 2009
Senate May Seek Greater U.S. Carbon Cuts Than House (Update3)
The following blog post is from Bloomberg.com and is subject to change..
A Senate measure to slow global warming calls on U.S. power plants, factories and refineries to reduce greenhouse-gas emissions by 20 percent through 2020, a deeper cut than approved by the House, according to a draft.
The target is part of legislation prepared by the Senate Environment and Public Works Committee staff for release tomorrow, said a person familiar with the process who asked not to be identified before then.
Exxon Mobil Corp., the largest U.S. energy company, along with American Electric Power Co., the nation’s biggest producer of power from coal, and thousands of polluters would be forced for the first time to have permits to release gases blamed for climate change. The draft doesn’t say how many free allowances, worth billions of dollars, would be granted to the companies.
Read more... http://www.bloomberg.com/apps/news?pid=20601087&sid=a171CF510JIE