Thursday, July 22, 2010
The Hill newspaper is quoting Senate Democratic aides who say that the energy bill will leave off any attempt set a price for carbon. Instead, Senate Majority Leader Harry Reid (D-Nev.) will go with an even narrower package, regulating BP and other oil drillers as well as promoting green energy production and fuel-efficient vehicles.
Supporters of a cap-and-trade approach to regulating greenhouse gases had floated the idea of applying the scheme to utilities alone in recent weeks. That approach might have been politically more palatable to a Senate that is wary of slowing down the economy with new energy mandates. Now it seems even the less ambitious carbon policy is off the table until next year.