The long-awaited U.S. Senate climate and energy bill was unveiled on May 12, 2010, although it has not yet been formally introduced. Officially titled the “American Power Act,” the bill is nearly 1,000 pages long and was crafted over the past year by Senators John Kerry (D-MA), Joe Lieberman (I-CT) and Lindsay Graham (R SC). The Kerry-Lieberman bill, much like the Waxman-Markey bill that passed the House in 2009, would mandate limits on greenhouse gas (GHG) emissions for the electric utility, oil refining, natural gas and “energy-intensive” manufacturing sectors. The bill would also create a comprehensive GHG emissions trading system and would provide funding and incentives for a variety of energy and environmental initiatives.
Kerry-Lieberman has the following key elements...
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