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Horse trading underway on US Senate climate legislation.

- Tuesday, October 27, 2009

As anticipated, the serious horse-trading has commenced on the US Senate version of a US Climate Change Bill that would, if successful, see the establishment of an emissions trading scheme in the USA. The horse-tradingĀ is part and parcel of gathering the necessary number of votes to progress the legislation and have it passed by the Senate.

According to a report in the New York Times, the latest version of the Boxer-Kerry Senate legislation has been prepared by the Senate Environment and public works Committee, and includes sweeteners for trade exposed companies, for agriculture and forestry, and for early movers in Carbon Capture and Sequestration technology. Still anticipated are additional measures to support nuclear power, offshore oil drilling, and border tax penalties for imports from carbon unrestricted nations. Other Senate Committees will no doubt add to the list of extras before the legislation is finally put to a vote.

If the Senate Bill is successful, there will then be a further process to marry together the Boxer-Kerry Senate legislation, and the Waxman-Markey House of Representatives legislation. Both Houses of Congress would then need to pass the combined legislation before it could be enacted.  
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