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It's the moment that everyone's been waiting for . . . the Senate climate bill has finally arrived. Seriously, though, this is big news--it means we're one step closer to getting a law that would slow down greenhouse gas emissions across the US in the first time in our history. Take 5 minutes to learn all the basics of the bill, known as the Clean Energy Jobs and American Power Act.
The first climate bill, also known as the American Clean Energy and Security Act, the Waxman-Markey Bill, or, simply the House climate bill, passed the House of Representatives by a slim margin last June. Now, the next step in the legislative process is for the Senate to independently craft its version of a climate bill. If it passes a vote in the Senate, the two branches of Congress will then reconcile the differences in the bill, and vote on it again. If it passes there, it's off to Obama to get signed into law.
How a Climate Bill Works
Both climate bills are based on the idea that the US needs to reduce the amount of polluting greenhouse gases it emits into the atmosphere. Which is, needless to say, a pretty good idea. Most of these greenhouse gases, the most common of which is carbon dioxide, are spewed out by large coal plants and factories--and all of them are contributing to global warming. The Waxman-Markey bill would reduce emissions by 17% by 2020 from the levels they were at in 2005.
Both bills would use a system known as cap and trade to curb these emissions. In a cap and trade system, a 'cap' is placed on how much pollution a company can create. For every ton of CO2 a company emits beyond that cap, it must pay for a permit. These are called 'pollution permits' or 'allowances.' If a company pollutes less then its cap, it can sell its permits to companies that pollute more--making it pay to cut back on pollution.
Each of the climate bills gives most polluters the permits for free at first, and then gradually raises the prices over the years to give companies time to make adjustments.
Renewable Energy, Carbon Offsets, and Energy Efficiency
Both bills include alternative ways for businesses to pay for their carbon emissions--these are called 'carbon offsets,' and these are intended to help counteract a company's pollution. Carbon offset programs invest in clean technology or do mass tree plantings to help lower carbon emissions.
Another important part of the bills include a renewable energy standard, which would require the US get a certain amount of its electricity from renewable sources like solar or wind. This is the most popular part of the bill by a long shot.
There are also incentives for companies to increase energy efficiency and funding for a technology called 'Carbon Capture and Sequestration" that would catch the carbon as it's emitted from coal plants, allow it to be frozen and contained, and buried underground. Like pirate's booty. Except it's carbon.
How the Senate Climate Bill is Different
There are a few key differences between the Senate bill, which was authored by John Kerry and Barbara Boxer, and the one that passed the House. For starters, it includes funding for nuclear power, and has more money devoted to carbon capture. It also includes some sweet stuff for natural gas, to try to encourage coal companies to switch over. It's also a little more ambitious than the House bill--it shoots for a reduction of 20% of our carbon by 2020.
I hope that explains the basics of what these bills are trying to accomplish--both are huge, complicated bills that could have a major impact on our nation's economy. And in a good way--the drive to pollute less and create clean energy in cheaper, creative ways could lead to innovations like we haven't seen in years. The new wind, solar, and efficient building industries the bill would create could bring millions of jobs along with them. It's intended to be a win-win for the economy and environment--let the debates begin.
More on the Climate Bill
Know the 7 Key Senators in the Climate Bill Battle
The Climate Bill Will Cost You Just 23¢ a Day
Climate Bill Will Save Each US Household $5600 Due to Reduced Oil Demands
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