by Rebecca Walker — July 1, 2009 The U.S. House of Representatives narrowly passed a sweeping climate change bill that could significantly change the way Americans use and produce energy.
The American Clean Energy and Security Act (ACES), which passed on a 219-212 vote, now moves to the Senate, where experts predict another battle.
The bill aims to significantly reduce greenhouse gas emissions blamed for climate change: 17 percent below 2005 levels by 2020, with other measures promising additional reductions. At its core is a greenhouse gas cap-and-trade program that gives away about 85 percent of the carbon permits to utilities, heavy industry, refiners, among others, and includes provisions to shield consumers from rising energy prices.
Environmental groups hailed the bill’s passing. “This vote was a major hurdle, and we’ve cleared it,” Kevin Knobloch, president of the Union of Concerned Scientists, said in a prepared statement.
But critics say it will raise energy costs without providing the promised environmental benefits.
For more information, see the GreenBiz.com article.
