Climate Security Act Passes Senate Committee

Late on Wednesday, December 5th, the Senate Environment and Public Works Committee passed America’s Climate Security Act of 2007 (S. 2191), considered a major step forward in slowing and hopefully reversing the global warming effect of green house gas emissions.

The bill calls for a cut of GHG emissions, such as carbon dioxide, by as much as 63% by 2050 (or 19% below 2005 levels).

Emission limits would affect virtually all market segments, incorporating pollution permits based on EU’s carbon-trading program. The limits may also result in possible cuts in energy use.

But Senior Vice President and Chief Economist for the American Council for Capital Formation, Dr. Margo Thorning who testified before the committee on Nov. 8th, warns “A major stumbling block to the U.S.’s meeting the targets set forth in American’s Climate Security Act of 2007 (S. 2191) is projected increases in covered emissions and population growth over the next several decades. Sharp cutbacks in U.S. energy use would be necessary to close the 55 percent gap in 2030 between projected emissions and the S. 2191 target.”

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GovTrack.us
ACCF
The New York Times

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