NEW ENERGY LAW COMING THIS YEAR

Congress to pass energy bill this year: White House
Ayesha Rascoe (w/Paul Simao), April 19, 2009 (Reuters)

"U.S. lawmakers will pass major energy legislation, possibly including measures to address climate change, by the end of this year…White House Chief of Staff Rahm Emanuel told ABC's "This Week with George Stephanopoulos."

"…[A]sked whether the bill would include a controversial cap-and-trade system aimed at curbing emissions of carbon dioxide, Emanuel said "'our goal is to get that done. We will see.'"

From NationalWildlife via YouTube.

"Democrats in the House Energy and Commerce Committee will begin hearings this week…Energy and Commerce Committee Chairman Henry Waxman has said he wants the bill…to pass the committee in late May and the House of Representatives later in 2009.

"Senate Majority Leader Harry Reid, also a Democrat, said he hoped the Senate by the middle of 2009 would pass cap-and-trade legislation, which allows firms emitting more carbon dioxide than the limit to buy credits from those that emit less.

"No major bill addressing the issue has been introduced in the chamber…Democrats control Congress…But the attempt to enact new climate change laws at a time when the U.S. economy is in a deep recession has raised concerns among Republicans and some Democrats, who worry that doing so would raise costs for consumers and industry."

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"Emanuel said it was understandable that there would be some objections to a program of this magnitude, but…"…what I believe is we're going to alter how we deal with our energy policy…"

"Congress faces pressure to act on climate change following the Environmental Protection Agency's finding last week that carbon dioxide posed a danger to human health, possibly paving the way for federal regulation of greenhouse gas emissions…"