In a much anticipated move, some sixth months in the making, Senators John Kerry and Joe Lieberman will introduce comprehensive clean energy and climate legislation this afternoon.
After a delay of a little over two weeks, the two senators will announce the legislation in a press conference at the Capitol. A summary leaked last night, followed by a more detailed piece-by-piece description.
According to the summary, the bill will protect consumers through refunds and rebates aimed at keeping energy costs down, while setting a price on carbon and investing in clean energy. The result would be a cut in emissions, new jobs created and a significant cut in oil dependence.
It comes three weeks and one day after an explosion on the Deepwater Horizon in the Gulf of Mexico touched of a sequence of events leading to a massive oil spill, bringing the conversation about offshore drilling to the forefront.
The chief way to cut dependence on oil is through the transportation industry, not just public, but shipping as well, and the summary has a plan for that as well.
Over $7 billion is provided annually for improvements in mass transit and throughout the highway system, as well as investments in advanced vehicles and natural gas powered trucks. The same section also gives states flexibility around offshore within 75 miles of their shores, something that would have affected the current situation in the Gulf.
Carbon sequestration, nuclear power and natural gas all have their own sections in the summary, as well as a cap on carbon. The bill is excepted to initially affect about 7,500 factories and power plants.
A battle looms in the Senate, with bill proponents squaring off against one of the richest and most aggressive lobbies in Washington – Big Oil – and could drag on for weeks. What it won’t change is the need for comprehensive clean energy and climate legislation.
Don’t expect the longer time line to help calm fears about oil spills either. Even BP is currently admitting that it could be weeks or even months before even a dent is made on the well in the Gulf. This will stay in the public conscience for quite some time, as well as firmly on the minds of those in some states where many have been pro-drilling. Many are seeing first hand the damage done by dirty energy.
Today is the first look at a piece of legislation that could begin to change these outcomes.
