The Upcoming New Carbon Markets Introduced by the Senate

The Upcoming New Carbon Markets Introduced by the Senate

In the year 2009, the House of Representatives might have already passed the American Clean Energy and Security Act in 2009, but its contained cap and trade program did not favorably get the votes of the opposing side. There are upcoming negotiations that will be expected to be going on behind the scenes in the United States Senate, as the focus will be turned towards the legislation for climate change in 2010.Under new initiatives posed by a Republican Senator (Graham), a Democrat (Kerry) and Washington's only independent (Lieberman), power companies would be forced to buy and sell their "rights" to pollute within a new carbon market, with oil companies expected to pay fixed fees for their emissions. This would be a hybrid utility carbon market, which could be another point of consideration for law-makers.Intensive negotiations go on behind the scenes in the U.S. Senate, as focus turns toward climate change legislation during the course of 2010. In 2009, the House of Representatives might have already passed the American Clean Energy and Security Act, but the cap and trade program that's within this did not gain favorable response from its opponents.Climate change has been historically political and it is expected by a few observers that the Senate shall be able to move forward when it comes to issues on climate change without a serious thrust within 2010. Many expect the looming political elections in November to temper activity and that little will be effectively done until the 2011 congressional sessions.Many argue that widespread support for controversial "cap and trade" legislation has waned somewhat, especially as political attention was focused on healthcare issues during almost all of 2009. Many were disappointed by the lack of results emanating from the Copenhagen Summit and environmentalists continue to warn us that we can ill afford to stall and must pay clear attention to the introduction of carbon market forces.One of the major issues facing legislators and championed by detractors of the current initiative is the provision that allows shorelines and oceans offshore to be opened up to oil and gas drilling. It is most likely that those Senators whose states will be directly affected by such legislation would be against such proposals, if it does moves forward.If senators can get beyond issues such as offshore oil and concentrate on the broader legislation at hand, new proposals for the establishment of a carbon market affecting oil companies and power companies could gain favor. Within the new legislation, a fixed fee would be paid for emissions by oil companies, linked to the price that power companies pay for carbon dioxide allowances. These calculations would be related to what is workable within the carbon market.As companies large and small come to the realization that some form of carbon market may well be in evidence within the years ahead, they should realize that they will, in one form or another, be more liable for the energy that they use within their daily operations. It's in their best interests to cut down their energy consumption and carbon emissions resulting from which, in order for them to be able to manage costs and to be able to proactively participate in sustainable operations.From across the board of senators, activities are now being lined up in order to find a way to implement workable carbon trading scheme. Industry groups like the Chambers of Commerce and other bodies which represent the electricity and utility production companies are already getting more involved while the exploration on legislation goes on.

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