Wednesday, February 02, 2011

Inhofe & Upton Seek To Block EPA GHG Rules

Senate Environment & Public Works Committee ranking minority member James Inhofe (R-Okla.), left, and House Energy and Commerce Committee Chairman Fred Upton (R-Mich.), right, unveiled draft legislation today that would prohibit the Environmental Protection Agency from regulating greenhouse gases (GHG) under the Clean Air Act.  EPA is acting under its existing Clean Air Act powers to begin phasing in rules to slow emissions from sources like power plants and refineries. Republicans and many fossil fuel industry groups believe that regulating greenhouse gas emissions under the air law will harm the economy and eventually impose burdensome requirements on scores of facilities.

The Center disagrees and believes the regs will improve the economy by opening up innovative entrepreneurial solutions to GHG reductions. We believe EPA is using a moderate approach to stem emissions.  The Center is calling for a much faster and broader approach.  We would like to see an aggressive cap-and-trade program implemented.  The Center is registered in EPA's very successful Acid Rain and NOx cap-and-trade programs.  The Center is also registered in the Northeastern Regionional  Greenhouse Gas Initiative (RGGI).  The Center has a CO2 trading house ready to participate in a Congressional mandated or regulatory required cap-and-trade program via our Carbon Mercantile Exchange (CMX). (The Hill, 2/1/2011)

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