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Historic legislation seems dead in the water this week as a
veto threat from the White House and growing opposition from Republicans
essentially buried Congress’ sweeping act to control climate change by cutting
66 percent of greenhouse gas emissions by 2050. The Lieberman-Warner Climate
Security Act, which had bipartisan but not widespread support, was tabled after
it appeared it did not have the necessary votes in the Senate to pass, let
alone overturn a promised veto from President Bush.
However, that hasn’t stopped the Government Accountability Office from chiming in on the best way to establish such a control. GAO review, published this week by Democratic Senators Barbara Boxer and Dianne Feinstein of California, said that every panelist on the nonpartisan scientific commission agreed that Congress should consider a market-based mechanism to establish a price on greenhouse gas emissions, and 14 of the 18 panelists recommended additional actions to address climate change.
Experts on the panel differed on the initial stringency of any such mechanisms, although over two thirds of the panelists agreed on an initial price between less than $1 and $20 per ton of emissions.
To establish a price on emissions, most of the panelists preferred either a tax on emissions or a hybrid policy that incorporates features of both a tax and a cap-and-trade program.
However, that hasn’t stopped the Government Accountability Office from chiming in on the best way to establish such a control. GAO review, published this week by Democratic Senators Barbara Boxer and Dianne Feinstein of California, said that every panelist on the nonpartisan scientific commission agreed that Congress should consider a market-based mechanism to establish a price on greenhouse gas emissions, and 14 of the 18 panelists recommended additional actions to address climate change.
Experts on the panel differed on the initial stringency of any such mechanisms, although over two thirds of the panelists agreed on an initial price between less than $1 and $20 per ton of emissions.
To establish a price on emissions, most of the panelists preferred either a tax on emissions or a hybrid policy that incorporates features of both a tax and a cap-and-trade program.
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