Earth Equity News

Special Provisions Proliferate House Climate Bill: Expect More in Senate. By Jim Tankersley, LATimes, July 20, 2009. "Less than 24 hours before the House approved its landmark energy and climate bill last month, Rep. Ed Perlmutter (D-Colo.) got several paragraphs added to the 1,200-page measure -- additions expected to be worth millions of dollars to companies that install solar panels. About the same time, Rep. Melissa Bean (D-Ill.) took the lead in adding another little-noticed provision to the legislation -- a section designed to prevent regulatory action she said could shut down the multitrillion-dollar market for over-the-counter derivatives, a complex type of financial instrument. These narrowly focused amendments were part of a torrent written into the bill during the wheeling and dealing that took place as Democratic leaders rounded up the votes needed to squeak out a victory. There were about 300 pages of last-minute amendments, many designed to make money for industries and constituencies important to fence-sitting lawmakers. The bill that passed the House included sweeteners for developing natural-gas-powered cars and energy-efficient mobile homes, plus financial rewards for early participants in the Chicago Climate Exchange, North America's first trading center for greenhouse gas emissions. Surprisingly for a climate bill, there was also a provision making it harder to develop the vast wind-power potential of states like North Dakota -- a key element in President Obama's strategy to fight global warming. Some of the provisions could be tweaked or killed in the Senate. But more likely, analysts said, more will sprout as Democratic leaders and the White House strive to build a majority on that side of Capitol Hill."