Senate Leader Signals Strong Push to Pass Climate Legislation this Summer Majority leader Harry Reid wrote to the chairs of eight Senate committees, asking them to make recommendations to address the BP oil spill before the July 4 Senate recess. Reid said he plans to bring the Kerry-Lieberman climate bill before the Senate during the
Read moreUS Department of State Forecasts 4% Greenhouse Gas Rise by 2020 The U.S. Department of State published its annual emissions report detailing emissions trends between 1990 and 2007 and U.S. policies to reduce greenhouse gases. The Department of State is required to submit the report as a party to the United Nations Framework Convention on
Read moreObama Intends for Congress to Pass Climate Bill President Obama said that moving the controversial climate bill through Congress this year is a task he is personally committed to. He said that the oil spill in the Gulf of Mexico underscores the nation’s need to move away from reliance on fossil fuels and “to embrace
Read moreNorth American Carbon Market Valued at $2.4 Billion The value of the North American carbon market grew 279% in 2009, to $2.4 billion, according to the World Bank. With a 487% increase in traded volume from 2008, the 2009 traded volume of North American carbon credits represented 880 million tons of carbon dioxide (CO2) emissions
Read moreGoogle to Purchase 300,000 Carbon Offsets In a step toward becoming a carbon-neutral company, Google has agreed to purchase 300,000 carbon credits. The credits will come from an offset project located in South Carolina, and will be registered on the Climate Action Reserve (CAR) registry. Carbon industry insiders hope the project catches the eyes of
Read moreAnalysis: Climate Bill Will Stimulate Job Creation A report on the Kerry-Lieberman American Power Act by the nonpartisan Peterson Institute of International Economics shows that the bill’s provisions would prompt $41.1 billion in investments in the electricity sector annually between 2011 and 2030. “This stimulates US economic growth and job creation in the first decade,
Read moreUS Carbon Credits to Average $26/ton Under the federal cap-and-trade system proposed in the Kerry-Lieberman climate bill, carbon would average $26 in 2013-2020. With this price projection, analysts estimate the value of the carbon market to be $350 billion in 2020. The bill, named the American Power Act, includes a $12 price floor, rising by
Read moreAnalysis: Climate Bill Will Stimulate Job Creation A report on the Kerry-Lieberman American Power Act by the nonpartisan Peterson Institute of International Economics shows that the bill’s provisions would prompt $41.1 billion in investments in the electricity sector annually between 2011 and 2030. “This stimulates US economic growth and job creation in the first decade,
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