rssBingaman Looks to Influence Cap-and-Trade Debate
Tuesday, September 15, 2009 at 6:45 pm
- 20 Comments
Senate Energy and Natural Resources Chairman Jeff Bingaman (D-N.M.) on Tuesday staked out a role for himself in cap-and-trade policy, hosting a hearing on how to prevent price volatility in a cap-and-trade system.
It was the first of two hearings Bingaman scheduled this week. A second, on Thursday, will focus on the broader economic effects of climate change legislation. The move to host hearings on the subject is interesting, as ENR doesn’t have jurisdiction over the cap-and-trade provisions of a climate and energy bill. That falls to the Environment and Public Works Committee, chaired by Sen. Barbara Boxer (D-Calif.), who delayed the release of her climate bill until sometime later this month. Meanwhile, Senate Finance Committee Chairman Max Baucus (D-Mont.) seems likely to claim jurisdiction over the permit allocation and offset provisions of the bill.
Bingaman authored energy legislation, along with Lisa Murkowski (R-Alaska), that passed out of his committee in June and is expected to be combined with cap-and-trade policy. But it seems he also wants to play a role in shaping — or at least draw some attention to his views on — cap-and-trade.
Last year, Bingaman offered his own bill on the matter with Sen. Arlen Specter (D-Pa.), back when Specter was still a Republican. Their bill was less stringent than the climate bill that the Senate rejected last year, and included a so-called “safety valve” – a mechanism that contain costs for industries by automatically releasing additional carbon emission allowances into the market if the allowance price rises too high. Enviros don’t care for this approach; the point of an emission-credit system, they say, is to make it noticeably more expensive to pollute so industries will have an incentive to reduce their emissions.
It seems Bingaman wants to make sure his case for cost containment is heard again this year. “We need to provide assurances that the costs of a cap-and-trade system will not go out of control, either through excessive prices or excessive volatility,” he said at Tuesday’s hearing. “The purpose of today’s hearing is to explore some of the mechanisms that can be used to address these concerns.”
20 Comments
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Comment posted September 16, 2009 @ 1:34 am
Cap and trade, AKA Cap and tax, is nothing more than another leftists fascist power grab designed to raise taxes for the government to waste on crap. It's another population control program that has to be killed in the making at all costs. Don;t let the feds run your house, we run theirs!
I encourage all of you to start stockpiling light bulbs (real ones) before the marxists in the USA follow the marxists of the EU in forming death squadrans who infiltrate your homes in the middle of the night and take your light bulbs. nevermind, your heroine, pot, booze, whores, and the like. All of that is okay. It's the evil light bulbs their really after.
Don;t let them take our light bulbs. Fight for your rights to be an individual free thinkig human being. Pleas pray for a small asteroid to hit in dividual marxists' on the head. Then will we be free.
Death to light bulb nazis! Communists suck swine tits!
Comment posted September 16, 2009 @ 6:05 am
Your ideas are intriguing, well-reasoned, and expressed so articulately; please, go on.
Comment posted September 17, 2009 @ 6:42 pm
Sen. Jeff Bingaman is an honorable man and can be trusted to do the right thing for New Mexico citizens and I am sure he is well aware of the needs of the American people as well.
Comment posted April 29, 2010 @ 2:37 pm
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