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Risk.com: Markey says climate bill will be out by the end of 2010 |
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February 1, 2010
President Barack Obama will have a new clean energy bill to sign by the
end of the year, according to US congressman Edward Markey. Speaking at
the World Economic Forum in Davos, Switzerland on January 29, Markey
said Obama had committed to passing climate legislation and that the US
Senate and House of Representatives would produce a bill to be signed
into law by the end of 2010.
“The
reason I believe that will happen is that it is in our national
security and long-term economic interests,” said Markey, who is the
Democratic house representative for Massachusetts and chairman of the
Energy and Environment Subcommittee of the House Energy and Commerce
Committee. He also introduced the American Clean Energy and Security
Act with representative Henry Waxman, which was passed by the House in
June 2009.
Markey added that a large part of the US deficit results from importing
oil from countries to which the US should not be sending its capital.
He acknowledged that a Republican coalition is working with the White
House to produce a final bill, but he also noted the President’s
executive authority to regulate greenhouse gases without legislation.
However, Markey argued legislation would allow the impact of regulation
on consumers and industry to be controlled.
The Environmental Protection Agency (EPA) has regulatory authority to
regulate greenhouse gas emissions such as carbon dioxide under the
Clean Air Act. It announced plans to begin curbing emissions from the
nation’s largest stationary sources from March 2010.
Under the Congressional Review Act, if the resolution is upheld by the
Senate, House and President, the EPA can no longer enforce regulation
in this area and cannot introduce a similar rule at a later date. The
resolution has been referred to the Senate Committee on Environment and
Public Works.
Pauline McCallion
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