Sunday, September 5, 2010 8:30 AM
This is from ACORE: American Council on Renewable Energy:
Climate Change and General Energy Policy
American Power Act (APA). Sens. Kerry (D-MA), Lieberman (I-CT)
This bill institutes an economy wide cap of greenhouse gas (GHG) requiring 17% reduction below 2005 levels in 2020 and an 83% reduction by 2050. Electric utilities and refiners of petroleum products would be regulated in 2013, followed by the industrial sector and natural gas local distribution companies in 2016.
View ACORE Overview of the APA or Government Section by Section Summary
View EPA Analysis of APA
S.2877- Carbon Limits and Energy For America Renewal (CLEAR) Act of 2009. Sens. Cantwell (D-WA), Collins (R-ME)
This bill institutes an upstream cap on oil, coal and natural gas, at the point of entry into the economy. The cap would decline overtime, achieving an 80% reduction below 2005 levels by 2050. One hundred percent of the allowances would be auctioned off with 75% of the revenue distributed on a per capita basis to all legal U.S. residents. Twenty-five percent of the revenue will be deposited in the Clean Energy Reinvestment Trust (CERT) fund. The cap includes a floor of $7 and a ceiling of $21 that rises annually at the rate of inflation plus a 6% discount rate.
View government memo about the CLEAR Act
S. 1733- Clean Energy Jobs and American Power Act. Sens. Boxer (D-CA), Kerry (D-MA)
Approved by Senate EPW Committee 10/29/09
This bill requires a 20% reduction in greenhouse gas (GHG) emissions below 2005 levels by 2020; a 42% reduction by 2030 and a 83% reduction by 2050. Two billion tons worth of offset credits (75-25 domestic-international) may be surrendered for compliance each year. For purposes of investing in energy efficiency and renewable energy, States will receive 10.35% of distributed allowances in 2012 and 2013. The percentage of allowances will decline to 0.9% in 2025 and then increase to 4.05% between 2026 and 2050.
View Government Summary of Key Changes in S.1733
View ACORE Overview or ACORE Summary of S.1733
View EPA Analysis of Economic Impacts of S.1733
H.R. 2454- The American Clean Energy and Security Act (ACES) of 2009. Reps. Waxman (D-CA), Markey (D-MA)
Passed House 6/26/09
This bill requires a 17% reduction in greenhouse gas (GHG) emissions below 2005 levels by 2020; a 42% reduction by 2030 and a 83% reduction by 2050. Two billion tons worth of offset credits (75-25 domestic-international) may be surrendered for compliance each year. For purposes of investing in energy efficiency and renewable energy, States will receive 9.5% of distributed allowances in 2012 through 2015. The percentage of allowances will decline to 1.0% in 2025 and then increase to 4.5% between 2026 and 2050. The bill includes a combined energy efficiency and renewable electricity standard of 20% by 2020 with up to 8% coming from improvements in efficiency.
View an ACORE summary of H.R. 2454 or ACORE Overview of the renewable energy provisions or ACORE's statement on H.R. 2454
Clean Energy Act of 2009 (Discussion Draft). Sen. Graham (R-SC)
This discussion draft has been circulated by Sen. Graham (R-SC), who is working with Sen. Lieberman (I-CT) and Sen. Kerry (D-MA) on a bipartisan alternative to the cap and trade legislation that passed the House (H.R.2454). This discussion draft implements a federal clean energy standard beginning at 13% in 2012 and increasing to 50% by 2050. In addition to renewable energy, the clean energy standard includes energy efficiency, new nuclear capacity and advanced coal generation.
View ACORE Overview of Discussion Draft
Comprehensive Energy Proposals
H.R. 5899- Roadmap for America?s Energy Future. Reps. Nunes (R-CA), Ryan (R-WI), Shimkus (R-IL),Simpson (R-ID) and Bishop (R-UT).This bill expands drilling on the outer continental shelf (OCS) and in the Arctic National Wildlife Refuge (ANWR); mandates 200 operating permits for new commercial nuclear reactors by 2040; sets up a reverse auction mechanism to support renewable energy development and establishes a trust fund composed of the federal lease and royalty revenue from oil and natural gas production to support the reverse auction.
View Government Summary or Section by Section
S.1462- American Clean Energy Leadership Act (ACELA). Sen. Bingaman (D-NM)
This bill institutes a renewable energy standard (RES) of 15% by 2021, a Clean Energy Deployment Administration (CEDA) and transmission reforms. ACELA was approved by the Senate Energy and Natural Resource Committee on October 29, 2009.
View ACORE Overview of ACELA
View Government Summary
S. 3464- Practical Energy and Climate Plan Act of 2010. Sen. Lugar (R-IN)
This bill establishes efficiency standards for the transportation and electricity sectors, as well as programs to increase biofuel production and flex fuel vehicles. In addition, the bill creates a diverse energy standard (DES) of 50% by 2050 that includes renewable energy, nuclear and coal with carbon capture and storage.
View ACORE Overview
View Government Summary
S.3251- Improving Energy Efficiency and Renewable Energy Use By Federal Agencies Act of 2010. Sen. Carper (D-DE)
This bill authorizes federal facilities to enter into 30-year power purchase agreements (PPAs) with 1 or more renewable energy generating systems. Additionally, it authorizes $500 million for the "Federal Facility Energy Efficiency and Renewable Energy Projects Fund," which would provide loans to assist federal agencies with energy efficiency and renewable energy projects.
S. 3663- Clean Energy Jobs and Oil Company Accountability Act of 2010. Sen. Reid (D-NV)
This bill includes a response to the Gulf oil spill, provisions to encourage the use of natural gas in, and electrification of, the transportation sector, incentives for energy efficiency upgrades and full financing of the Land and Water Conservation Fund. There are no provisions related to renewable energy.
View Government Summary
Climate Related Proposals
S. 2835- International Climate Change Investment Act of 2009. Sen. Kerry (D-MA)
This bill establishes an International Clean Energy Deployment Program to provide assistance for the deployment of renewable energy, energy efficiency, carbon capture and sequestration (CCS) and other technologies that reduce greenhouse gas (GHG) emissions in developing countries.
S. 2776- Clean Energy Act of 2009. Sens. Webb (D-VA), Alexander (R-TN)
This bill increases the DOE's loan guarantee authority to $100 billion and provide $750 million per year over the next decade for five "mini-Manhattan" projects for carbon capture and sequestration, advanced biofuels, advanced batteries, solar power, and reprocessing and recycling spent nuclear fuel. The majority of funding would go to nuclear programs with a goal of doubling nuclear production in 20 years.
S.2729- Clean Energy Partnerships Act of 2009. Sen. Stabanow (D-MI)
This bill creates a domestic offsets program within a federal cap-and-trade system and provides the agriculture and forestry sectors with other financial incentives for reducing greenhouse gas emissions. The offsets provisions are generally more flexible than those in the Kerry-Boxer (S.1733) and Waxman-Markey (H.R.2454) bills.
Title III- Derivative Markets Transparency and Accountability of H.R.4173- The Wall Street Reform and Consumer Protection Act of 2009. Rep. Frank (D-MA)
Passed House 12/11/09
Title III establishes regulatory standards for the "over the counter" derivatives market. It requires standard swaps to be centrally cleared through a clearinghouse and brought on an exchange or registered on a swap-execution facility. It imposes capital and margin requirements on large financial institutions and requires all swaps trade to be reported to federal regulators. The bill also includes language to clarify jurisdictional conflict between the Commodity Futures Trading Commission and the Federal Energy Regulatory Commission.
Title VII- Wall Street Transparency and Accountability of S.3217- Restoring America's Financial Stability Act of 2010. Title VII approved by Senate Agriculture Committee 4/21/10
Title VII establishes regulatory standards for the "over the counter" derivatives market. It requires standard swaps to be centrally cleared through a clearinghouse and executived CFTC-registered exchange Exempt from this requirement are "commercial end users" defined as non-financial firms "primary business activity" relates to the use, manufacture, or sale of "goods, services, or commodities (which shall include but not be limited to coal, natural gas, electricity, ethanol, crude oil, gasoline, propane, distillates, and other hydrocarbons)."
Opposition to EPA's Regulation of GHGs
S.J.Res.26, H.J. Res. 77-Resolution disapproving EPA's findings under CAA. Sen. Murkowski (R-AK), Rep. Barton (R-TX) (Senate Rejected 6/10/10)
These Resolutions express Congress' disapproval of EPA's GHG endangerment finding and strip EPA of authority to regulate GHGs.
H.R.4396- Save Our Energy Jobs Act. Rep. Pomeroy (D-ND)
This bill amends the Clean Air Act (CAA) to explictly exclude "greenhouse gases." The bill further states the EPA should not have the authority to regulate GHG emissions unless explicitly authorized by Congress.
S.3072, H.R. 4753- Stationary Source Regulations Delay Act. Sen. Rockefeller (D-WV), Rep. Rahall (D-WV)
This bill would suspend any EPA regulation of carbon dioxide or methane under the Clean Air Act (CAA) for two years (other than motor vehicle emissions).
Government Agencies and Executive Branch
EPA Proposed Rules on CAA Permitting for Greenhouse Gas Emissions (8/12/10)
EPA proposed two rules to ensure that businesses planning to build new, large facilities or make major expansions to existing ones will be able to obtain New Source Review Prevention of Significant Deterioration (PSD) permits that address greenhouse gases (GHG).
View Troutman Sanders Advisory
EPA Final Tailoring Rule for Greenhouse Gas Emissions (5/13/10)
The rule establishes thresholds that would limit the number of facilities that need to obtain New Source Review and Title V operating permits based on their greenhouse gas emissions.
View All EPA Documents on Final Tailoring Rule
SEC Interpretive Guidance ("Release") for Climate Change Reporting (1/27/10)
The Securities and Exchange Commission ("SEC") voted to adopt Interpretive Guidance ("Release") for public companies regarding disclosure requirements related to climate change reporting. This Release does not create any additional legal requirements, but simply clarifies how existing disclosure requirements relate to climate change risks.
View an ACORE Overview
View Troutman Sander's Advisory or Stoel Rives Law Alert or Sutherland Alert
E.P.A.- Final Endangerment and Cause or Contribute Finding for Greenhouse Gas Emissions (12/7/09)
The EPA made two distinct findings:
1. Endangerment Finding: Current and projected GHG concentrations in the atmosphere are a threat to public
health and welfare of current and future generations
2. Cause or Contribute Finding: GHG emissions from motor vehicles contribute to the GHG pollution, which
threatens public health and welfare
EPA Proposed Rule: Prevention of Significant Deterioration and Title V GHG Tailoring (10/1/09)
The rule proposes new thresholds for greenhouse gas emissions (GHG) that define when Clean Air Act (CAA) permits under the New Source Review (NSR) and title V operating permits programs would be required for new or existing industrial facilities.
View EPA Facts Sheets on Proposed Rule or Johnson Memorandum Reconsideration Proposal
View Troutman Sanders LLP Advisory
CBO Cost Estimate Finds Boxer-Kerry Climate Bill (S.1733) Saves $21 Billion (12/17/09)
The Congressional Budget Office (CBO) estimates that from[masked], enacting this bill would: increase federal revenues by approximately $854 billion; and increase direct spending by approximately $833 billion. This would lead to a $21 billion budget surplus. In addition, federal revenues would continue to outpace direct spending for at least forty years after 2019.
EPA and CBO Estimate Modest Costs for Consumers From Climate-Energy Bill (6/23/09)
An EPA analysis of the American Clean Energy and Security Act (ACES) estimates it will cost the average household between $84 to $105 a year in 2020. A Congressional Budget Office (CBO) analysis estimated an average cost of $175 per household per year in 2020.
View the EPA Analysis or the CBO Analysis
PEW Report Shows Climate Legislation Would Not Push Industries Overseas (5/6/09)
A new report by the PEW Center on Climate Change found a cap on greenhouse gases will be manageable for energy intensive industries and would not cause them to move overseas en mass or lose major market share.