Senate Panel Climate Hearings Proceed In Face of New Attacks
30 10월 2009 - 12:33AM
Dow Jones News
U.S. Senate Environment and Public Works Committee Chairman
Barbara Boxer, (D., Calif.), on Thursday, pressed ahead with a
third day of hearings on climate legislation in the face of new
attacks on the measure.
Sen. Jim Inhofe, (R., Okla.), demanded a more thorough analysis
of the legislation before the committee begins the process of
modifying and approving the bill. Sen. George Voinovich, (R.,
Ohio), blew up at Boxer, saying that forcing polluters to pay for
greenhouse-gas emissions would result in a massive transfer of
wealth from some parts of the country.
"California is going to make out like a bandit with this
legislation," Voinovich complained. "To jam this thing through here
is not going to be good and America is going to be very, very upset
about it."
Tempers are flaring amid uncertainty about the regional effects
on capping greenhouse-gas emissions. Under the legislation,
companies would have to hold government-issued permits allowing
them to spew carbon dioxide and other greenhouse gases, which
scientists have linked to climate change. Only a limited number of
permits would be issued, with fewer offered over time.
Manufacturers, which rely on coal-generated power, and coal
producers would be among the hardest hit under such a policy. Coal
is a cheap source of electricity in the U.S., accounting for almost
half of U.S. electricity generation. But coal-fired power is also a
major source of greenhouse-gas emissions. The legislation is
designed to help hard-hit industries, handing out free allowances
to factories and for the development of "clean coal" technology to
remove carbon-dioxide from emissions.
Sen. Max Baucus, (D., Mont.), whose Senate Finance Committee has
jurisdiction over some parts of the bill, said he supported
measures that would provide billions for "clean coal" technology.
That, and other measures setting performance standards for power
plants, "are one example where the middle lies on climate
legislation." Baucus said he hoped to "mirror" that success in
other parts of the bill.
Under the Senate bill, greenhouse-gas emissions would decline
20% below 2005 levels by 2020 and by more than 80% by 2050.
Coal-state Democrats such as Baucus, as well as many businesses,
believe the near-term goals are too ambitious and want Boxer to
pull back. The concern is that "clean coal" technologies such as
carbon capture and sequestration will not be commercially available
at a time when deep emissions reductions take hold.
"This bill kills the coal industry," said Mike Carey, president
of the Ohio Coal Association. "Simply throwing some funding at CCS
is not going to make the technology available prior to 2020 or
2030."
Exelon Corp. (EXC) Chief Executive John Rowe, who supports
climate legislation, had some similar concerns.
"We do not expect substantial deployment of either new nuclear
generating stations or new coal generation stations with carbon
capture and sequestration in a time frame that will achieve the
results mandated by the draft," Rowe testified. He called for
reducing emissions 14% by 2020, rather than 20%.
Republican frustration threatens to slow down action because
Inhofe, the ranking Republican on the panel, has threatened to
block a vote unless more analysis is provided on the bill.
Democrats say Republican criticisms are without merit.
-By Siobhan Hughes, Dow Jones Newswires; 202-862-6654;
Siobhan.Hughes@dowjones.com