Wednesday, April 1, 2009

House Bills Targets 20% Cut in GHG by 2020


WASHINGTON -(Dow Jones)- U.S. House lawmakers are targeting a 20% reduction in greenhouse gases by 2020 in a draft climate bill unveiled Tuesday that promises to raise energy costs for the country, but leaves many of the most important details for later negotiations.
Waxman's draft includes:
- A new source performance standard for coal-fired power plants that cuts carbon dioxide emissions by 50% by 2015 and 65% by 2020
- Renewable electricity standard from 6% by 2012 up to 25% by 2025
- An energy efficiency standard, up to 15% in electricity savings and 20% in natural gas savings by 2020.
- A low-carbon fuel standard designed to drive development of electric vehicles and biofuels
- A required $10 billion utility charge to fund carbon dioxide sequestration projects
- A mandate for a 30% increase in building efficiency for new buildings by 2012 and a 50% increase by 2016
It’s a great first step, but it looks like the likelihood of getting it passed in the Senate later this year are not that great.  Plus the measurement technique has not really been talked about, and the exchange of credits and who can could possibly have a free ride is still up in the air.

--Nathan Shetterley
EVO Director of New Media