Finally, a Dose of Sanity from Congress on Climate Legislation

Posted by A Siegel, Energy Smart at 5:00 PM on May 28, 2008.

New climate legislation by Congressman Markey is a step in the right direction.

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Today, Congressman Ed Markey has announced that he will introduce the Investing in Climate Action and Protection (iCAP) Act next week. Unlike the Boxer-Lieberman-Warner Climate inSecurity Act (BLW CISA), the iCAP follows science calling for a reduction of greenhouse gas (GHG) emissions in covered sectors by 85 percent by 2050. It also is serious in making polluters pay, with nearly 100 percent of pollution permits auctioned (94 percent in 2012, 100 percent by 2020). And, it has strong provisions to secure social equity (both domestically and internationally). In short, iCAP is in lines with the basic principles for global warming legislation.

The iCAP has significant focus on “investing”, on investing in a positive vision for dealing with Global Warming. “To heal this sick planet” in a way that will strengthen society, strengthen the economy at the same time.

Now, iCAP has a tremendous amount of value.

It also has a tremendous amount of material.

Having just seen the summary and read (and listened to via CSPAN) the speech, it is not the time to embrace the legislation as is, even within its strengths. For example, there look to be some uncertain elements. For example, let us take one point:

Return over half of auction proceeds to low- and middle-income households to help compensate for any increase in energy costs as a result of climate legislation.

The iCAP Act returns over half of auction proceeds to low- and middle-income households through rebates and tax credits. This will compensate all increased energy costs due to climate legislation for all households earning under $70,000 (66 percent of U.S. households), and will provide benefits to all households earning up to $110,000 (over 80 percent of U.S. households).

This raises a number of questions.

Should there be a drive for covering 100 percent of “increased energy costs”? To me, the key focus should be to help people stabilize their overall energy costs via energy efficiency (for example). Thus, is that money better spent on fostering a rapid move of rental properties into energy efficiency to lower renters’ energy usage (and, therefore, bills)?

This also reads, to a certain degree, as an income-level “cap and dividend” program. One element of “cap and dividend” is to build political support. While this covers “80 percent of US households”, there seems to be a political benefit of having 100 percent of US citizen households receiving some form of dividend. For example, if giving 50 percent of funds, why not give these out equally to 100 percent of US citizens living on US soil which would mean that every citizen would make a profit if they pollute less than 50 percent of the US average. And, if doing it in this fashion, guardians of citizens less than 18 years of age could receive half the funds and the other half could be invested in renewable energy and other climate-friendly investments to be distributed to these citizens after they turn 18.

And, there is a serious question as to whether dedicating “over half of auction proceeds” is necessary for achieving the necessary compensation. The Center on Budget and Policy Priorities has looked closedly at this issue.

The United States can reduce greenhouse-gas emissions in a way that does not increase poverty or otherwise harm low-income households and is fiscally responsible.

From their work, the CBBP has determined that “approximately 14 percent” of total auction revenues will be “needed to fully offset the increased energy-related costs faced by low-income consumers”.

Again, this is just a first look at a quite substantive action by Ed Markey.

Expect this to get more attention … from me and others.

Tagged as: environment, energy, climate change

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Congress Should Focus On ONE THING [Report this comment] Posted by: left_libertarian on May 28, 2008 6:41 PM Current rating: 3 [1 = poor; 5 = excellent] Impeach the criminals Bush and Cheney!! [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] » warning: the opposite of a untruth is not necessarily truth Posted by: nigelbest ITS NOT NICE TO FOOL WITH MOTHER NATURE [Report this comment] Posted by: chiefwanadubie on May 29, 2008 10:14 AM Current rating: 3 [1 = poor; 5 = excellent] GLOBAL WARMING, was created, by outlawing the HEMP plant!!! Only the legalization, of the HEMP plant, will rectify the problem!!! If life hands you a greenhouse, plant it!!! , It's time to plant the planet, because, we have reaped it, so now it's time to sow!!! The only thing that you can make from "OIL", that you can't make from HEMP, is pollution!!! You can't make paper, from oil, but you can make FUEL, from hemp!!! If we made all paper products from Hemp, rice, and other renewable, non tree products, we would increase the amount of OXYGEN BEING PRODUCED SIGNIFICANTLY!!! The hemp plant, would end world hunger, and end the fuel crisis also!!! I believe that the HEMP plant, was outlawed, to create such problems, in order to give the government total control, "OUT OF "KAOS" COMES ORDER!!! A NEW WORLD ORDER!!! LEGALIZE HEMP, OUTLAW THE GOVERNMENT!!! [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] change the name [Report this comment] Posted by: Outspokengrandmother on May 29, 2008 10:14 AM Current rating: Not yet rated [1 = poor; 5 = excellent] The Bush Administration got one thing right... like "No Child Left Behind" they knew how name bills....Names like SCHIP and ICAP don't generate support. It should be called the "Save the Environment Act"...What astonishes me is that Democrats, while earnest, are committed to remaining ignorant about salesmanship....what's the rational? - My bill is great therefore it doesn't need to be sold to the American public? Everything needs to be sold. Expecially when there are huge corporations whose CEOs think they and their families will be transported to Mars after they have destoyed the environment on this planet. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] HIGH TECH TOWER OF BABLE [Report this comment] Posted by: chiefwanadubie on May 29, 2008 10:42 AM Current rating: 1 [1 = poor; 5 = excellent] No it's not mars, that they plan on escaping to, it's the universal/international space station, that they have tickets for!!! At the 1936 worlds fair, Hitlers NAZI scientists, released a rocket, bound for space, but it over heated in the OZONE layer, and exploded!!! The scientist, had a contingency plan, and introduced refrigeration/ freon!!! And pushed a plan to outlaw hemp, in order to deforest the world enough to reduce the ozone layer(earth's crust). Over the next 20 years, massive amounts of CFC,S/FLOURAL CARBINS, were released, in order to create a bubble, since these CFC,S were lighter than oxygen!!! In 1957 Russia, sent up a rocket to blow up this bubble, and the space race was born!!! That bubble/hole in the ozone, is the window, for space exploration, and without it N.A.S.A. WOULD HAVE NEVER EXISTED!!! READ ISIAH 14:12-14 [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] No Chance [Report this comment] Posted by: uncleeddie on May 29, 2008 3:18 PM Current rating: 1 [1 = poor; 5 = excellent] This bill has no chance because it defies the whole reason that the climate change issue caused by CO2 was fraudulently started. That was to bring in a carbon tax collected by the UN. There elite control of people worldwide could be used because of their guilt. Like the Vatican used guilt to make people pay for their sins the CO2 people create must be charged and given to the rich who control the UN. Any talk of corporations paying is simply a joke. CO2 does NOT cause the earths temperature to rise and no proof has been presented that it does. Just see how far this bill gets. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] Al Gore's Decree on Global Warming is Not Our Only Crisis [Report this comment] Posted by: luciennh on May 30, 2008 4:30 PM Current rating: Not yet rated [1 = poor; 5 = excellent] With all due respect to former Vice-President Al Gore, given his many years of dedication and his recently awarded Pulitzer Prize for his work on making the world aware of “Global Warming” and though still shrouded in some controversy, our even greater world problem is “Global Pollution”. Al Gore's Decree on Global Warming is Not Our Only Crisis [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] We live In A Polluted World [Report this comment] Posted by: luciennh on May 30, 2008 4:39 PM Current rating: Not yet rated [1 = poor; 5 = excellent] Will the world ever become cleaner, our air, oceans and streams less polluted ? Will man with his past great accomplishments find a way to reverse what it has exhausted into our ecosystem ? We live In A Polluted World [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

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