5.4. ERMUSR 03-20-2007 - Laserfiche WebLink

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efforts. At the end of 2006, A.I'PA worked with all of the signatories to the MOU and DOE to compile a progress report to dernorrstrate the success of the Climate Vision Program. The progress report was released in February of 2007. In the 109th Congress, the issue of climate change was debated and addressed legislatively, including in the Energy Policy Act of 2005 (EPAct05), but the debate and provisions signed into law supported incentives and voluntary approaches as opposed to a mandatory regime. The Senate also adopted the "Sense of the Senate" mentioned above offered by then-Ranking Member of the Senate Energy and Natural Resources Committee Jeff Bingaman (D-NM) and former Chairman Pete llomenici (R-NM). As a follow up to the Sense of the Senate, the two Senators issued a white paper focusing on the design elements of a mandatory market-based greenhouse gas regulatory system. Two months following the release of the white paper, Senators Domenici and Bingaman held a one day conference and invited several energy industry witnesses to provide comments on the paper. The discussions primarily focused on how a mandatory cap-and-trade program should be implemented if Congress imposed strch a regime. 1n the few short weeks since the 110th Congress has convened, a slew of climate change bills that would impose a mandatory regime have been introduced or put forward for review in draft form, including a bill by new Senate Energy and Natural Resources Committee Chairman Bingaman incorporating comments he received on his white paper. However, there are several other bills that are likely to be considered seriously as well. These include: the Global Warming Pollution Reduction Act, introduced by Senator Sanders (I-VT) and co- sponsored by Environment and Public Works Committee Chairman Boxer (D-CA); the Climate Stewardship and Innovation Act of 2007, introduced by Senators McCain (R-AZ) and Lieberman (I-GT); the Utility Cap and Trade Act of 2007, introduced by Senator Feinstein (D-CA); and a draft cap-and-trade bill to be introduced by Rep. Tom Udall (D-NM) that includes a "safety-valve" provision that would allow fora "time-out" from implementation of the program if the U.S. economy is suffering. In addition, Senate Majority Leader Harry Reid (D-NV) introduced S. 6, the National Energy , and Environmental Security Act of 2007, which lays out his goals on climate (but is not intended to provide any details on how to achieve those goals). The bill states that: "It is the sense of Congress that Congress should enact, and the President should sign, legislation to enhance the security of the United States by reducing tl~e dependence of the United States on foreign and unsustainable energy sources and the risks of global warming by, (1) requiring t-eductions in emissions of greenhouse gases; (2) diversifying and expanding the use of secure, efficient, and environmentally-friendly energy supplies and technologies; (3) A reducing the burdens on consumers of rising energy prices; (4) eliminating tax giveaways to large energy companies; and (5) preventing energy price gouging, profiteering, and market manipulation." While neither Speaker of the House of Representatives Nancy Pelosi (D-CA) nor Chairman of the House Energy and Commerce Committee John Dingell (D-MI) have introduced legislation as of this writing, both have released statements indicating what their plans are on the climate change issue irr the 110th Congress. In mid January, Speaker Pelosi announced that she planned to create a special select committee devoted exclusively to climate change issues. This is not intended to be a legislative committee, and Speaker Pelosi has indicated that it is not her plan to take jurisdiction on this issue away from the House Energy and www.APPAnet.org continued