B&D Consulting
On May 13, 2010, Senators John Kerry and Joe Lieberman formally introduced their comprehensive climate change and energy bill, the American Power Act (APA). This legislation represents months of work between the lead sponsors and their outreach to various interest groups.
Summary of the American Power Act
Title I: Domestic Clean Energy Development
This section has provisions for encouraging new nuclear power generation, increased offshore oil and gas exploration, deployment of carbon capture and sequestration for coal-fired power plants, renewable energy, energy efficiency and cleaner transportation through electrification. In the wake of the Deepwater Horizon accident, Senators Kerry and Lieberman decided not to drop the increasing offshore drilling provisions with revenue-sharing, although new drilling would not occur until after the investigation into the accident is complete. Part of the revenue is directed to fund state and Federal Land and Water Conservation Funds, while granting a portion to the home state as well. Furthermore, states are authorized to enact laws to prohibit leasing within 75 miles of their coastline.
Title II: Global Warming Pollution Reduction
This section modifies the Clean Air Act to incorporate a cap-and-trade mechanism in which two-thirds of the revenues raised from auctions are paid back to electricity ratepayers in the form of refunds. Like the House’s American Clean Energy and Security Act (ACES) counterpart, APA sets goals of reducing domestic greenhouse gas emissions (GHGs) 17 percent in 2020 and 83 percent in 2050, plus freely allocates …
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