Is an Energy Efficiency Scheme Destined for the US?
The United Kingdom is one of America's closest trading partners and there are many similarities between the ways that both countries do business and trade. Consequently there is a lot of interest being shown in the UK's new CRC Energy efficiency scheme, just about to get underway. The British Parliament acted quickly to focus the attention of the country on the need for action, with a new scheme designed to make a significant difference to the total amount of greenhouse gas emissions.
The CRC energy efficiency scheme opens for business in the spring of 2010 and 5000 companies will then register and must begin to formally recognize their status as head polluters. Over the following five months, energy use and associated emissions will be calculated and from then on each company must buy the rights to make these emissions at all. The initially agreed rate is 12 per ton.
Why wouldn't an energy efficiency scheme such as the UK project work in the United States? Theoretically, it would, at least as far as Waxman and Markey are concerned. These two politicians sponsored a bill which was converted to the American Clean Energy and Security Act by the House of Representatives last year. A cap and trade scheme is included within this legislation, along the lines of the UK version. However, the Senate, known for its caution, is eyeing these papers warily.
Is it possible that the U.S. Senate would allow a cap and trade-based energy efficiency scheme to be imposed upon American corporations and signed into law by the president? It appears that we will find out in 2010 and we'll see whether the damage caused by the passage of the difficult health legislation will have an impact or not. This is an election year for senators and many of them are afraid of additional controversy.
Individual political agendas will likely have a lot to say when an energy efficiency scheme is debated in the Senate soon. Democratic Senators are feeling a lot of heat and understand that their reelection campaigns are about to start. While Republicans dismiss the concept of an energy efficiency scheme altogether, total support for the passage could be in considerable doubt.
While the Chicago Climate Exchange is a voluntary energy efficiency scheme based on a voluntary cap and trade program, there is no other precedent for such an arrangement in the United States. Companies that would likely be affected would certainly be unhappy and it is felt that they would be placed at a trading disadvantage globally.
The overall, global battle against climate change is reaching a critical phase according to most environmentalists and scientists. There seemed to be little good news to bring out of the Copenhagen summit and individual territorial agendas appeared to take precedence. As the US is one of the largest contributors to the problem, there will be much pressure within the Senate to progress the energy efficiency scheme currently under question.
Is a cap and trade energy efficiency scheme one of the only answers to a meaningful reversal of climate change? The EPA may hold another card, as it has recently found that carbon emissions are a health hazard and this may allow a door to be opened to impose legal restrictions on these gases.
The CRC energy efficiency scheme opens for business in the spring of 2010 and 5000 companies will then register and must begin to formally recognize their status as head polluters. Over the following five months, energy use and associated emissions will be calculated and from then on each company must buy the rights to make these emissions at all. The initially agreed rate is 12 per ton.
Why wouldn't an energy efficiency scheme such as the UK project work in the United States? Theoretically, it would, at least as far as Waxman and Markey are concerned. These two politicians sponsored a bill which was converted to the American Clean Energy and Security Act by the House of Representatives last year. A cap and trade scheme is included within this legislation, along the lines of the UK version. However, the Senate, known for its caution, is eyeing these papers warily.
Is it possible that the U.S. Senate would allow a cap and trade-based energy efficiency scheme to be imposed upon American corporations and signed into law by the president? It appears that we will find out in 2010 and we'll see whether the damage caused by the passage of the difficult health legislation will have an impact or not. This is an election year for senators and many of them are afraid of additional controversy.
Individual political agendas will likely have a lot to say when an energy efficiency scheme is debated in the Senate soon. Democratic Senators are feeling a lot of heat and understand that their reelection campaigns are about to start. While Republicans dismiss the concept of an energy efficiency scheme altogether, total support for the passage could be in considerable doubt.
While the Chicago Climate Exchange is a voluntary energy efficiency scheme based on a voluntary cap and trade program, there is no other precedent for such an arrangement in the United States. Companies that would likely be affected would certainly be unhappy and it is felt that they would be placed at a trading disadvantage globally.
The overall, global battle against climate change is reaching a critical phase according to most environmentalists and scientists. There seemed to be little good news to bring out of the Copenhagen summit and individual territorial agendas appeared to take precedence. As the US is one of the largest contributors to the problem, there will be much pressure within the Senate to progress the energy efficiency scheme currently under question.
Is a cap and trade energy efficiency scheme one of the only answers to a meaningful reversal of climate change? The EPA may hold another card, as it has recently found that carbon emissions are a health hazard and this may allow a door to be opened to impose legal restrictions on these gases.
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