Cap-and-trade

Benefits from Higher MPG Levels Will Outweigh Modest Impact of Cap and Trade on Gas Prices; Net Gas Cost Savings For U.S. Motorists Seen Through Combined Impact Of Two Climate-Related Measures

November 3, 2009 -- Washington, D.C. -- Good news for American motorists: Despite doomsday prediction from energy-industry-funded interest groups, U.S. consumers actually will see a net reduction of $13 billion in 2020 and $46 billion in 2030 in their gasoline expenditures ($100 and $326 in average net savings per household, respectively) if Congress moves ahead to impose a cap-and-trade system, according to a new analysis from the American Council for an Energy-Efficient Economy (ACEEE).    » read more »

Feinstein and Snowe introduce measure to establish federal oversight for new carbon markets; Measure designed to prevent Enron-like fraud and manipulation

July 7, 2009 -- Washington, DC – U.S. Senators Dianne Feinstein (D-Calif.) and Olympia Snowe (R-Maine) have introduced legislation to establish federal oversight for markets that trade carbon allowances, which are permits to emit one metric ton of carbon dioxide into the atmosphere. The bill also establishes a framework to regulate carbon derivatives.    » read more »

World's biggest carbon offset exchange comes one step closer to reality as

Beijing / New York , June 18, 2009 – NYSE Euronext (NYX) today announced that BlueNext, its majority-owned environmental trading exchange, is partnering with the China-Beijing Environmental Exchange (CBEEX), the first state-level Chinese environmental rights trading platform, to set up an international carbon-trading related information platform.

Bluenext, the world’s largest “spot” trader of carbon credits supported by the world’s leading and most liquid exchange group, operates the world’s largest spot market for Certified Emissions Reductions (CERs). CBEEX is the gateway to China , the world’s largest market for Clean Development Mechanism (CDM) projects.    » read more »

CHICAGO, June 16 -- CME Group today announced the launch of four new In Delivery Month European Union Allowance (EUA) and Certified Emission Reduction (CER) futures and options contracts that will be available through CME ClearPort® and the New York trading floor. Clearing services will be available through CME ClearPort, a set of flexible clearing services open to over the counter (OTC) market participants to substantially mitigate counterparty risk and provide capital efficiencies across asset classes.

The futures contracts will be available beginning on June 21 for trade date June 22 and the options contracts on June 22 for trade date June 23. These contracts are listed for trading by NYMEX through CME ClearPort, and are subject to NYMEX rules and regulations.    » read more »

June 2, 2009 -- During the first week of June, the California Assembly is expected to vote on a bill that would limit the role of offsets in the state's landmark global warming law. The bill, AB 1404, has the support of the Union of Concerned Scientists, the California State Building and Construction Trades Council, and more than 60 health, labor, environmental, faith, social justice and civic organizations that say the bill would foster green job growth in the state, reduce smog-forming air pollutants that endanger public health and help the state meet its emissions-reduction goals.    » read more »

05/22/2009 -- California Governor Arnold Schwarzenegger sent the following letter to the 16 members of the Economic and Allocation Advisory Committee announced today by California Environmental Protection Agency Secretary Linda Adams and Air Resources Board Chairman Mary Nichols. The Committee will advise on the implementation of AB 32 and the associated cap-and-trade system.

Among the Committee’s tasks will be considering various options for freely distributing or auctioning allowances.

Full text of the letter:

May 22, 2009

Dear Members of the Economic and Allocation Advisory Committee,    » read more »

Consumers and Businesses in Delaware, D.C., Florida, Georgia, Maryland, N. Carolina, S. Carolina, Virginia and West Virginia Would Save Billions

WASHINGTON (May 19, 2009) – With the right policies in place, the United States could dramatically cut the heat-trapping emissions that cause global warming and, at the same time, lower energy costs in every region of the country, according to the findings of a two-year, peer-reviewed study by the Union of Concerned Scientists (UCS).

"We can protect the environment and Americans' pocketbooks by adopting the right policies," said UCS President Kevin Knobloch. "Our analysis shows we have the technology and the know-how to do this. What we now need is the political will."    » read more »

May 19th, 2009 - WASHINGTON - U.S. Senator Lamar Alexander (R-Tenn.), member of the Senate Committee on Environment and Public Works (EPW)—and original cosponsor of a bipartisan amendment enacted as part of the Energy Independence and Security Act of 2007 that increased the fuel efficiency of cars and light trucks for the first time in more than 30 years—made the following statement today regarding President Obama’s proposed tougher CAFE standards:    » read more »

HOUSTON, May 19, 2009 --- ConocoPhillips views the current Congressional debate regarding climate as important because it underscores the complexity in developing legislation that balances our nation's economic growth, national security and greenhouse gas (GHG) emission reduction needs. The American Clean Energy and Security Act of 2009 represents an important step in this process.    » read more »

Governors receive advisory group recommendations

May 14, 2009 -- A 42 person advisory group representing utilities, power generators, oil companies, manufacturers, labor, and environmental groups agreed yesterday to a set of Final Draft Recommendations that governors from six Midwestern states and the premier of Manitoba will use to develop a regional plan to cap and reduce global warming emissions.

The group advising the Midwestern Greenhouse Gas Reduction Accord (MGGRA) members—Illinois, Iowa, Kansas, Michigan, Minnesota, and Wisconsin and Manitoba—indicated a strong preference for Congress to enact a federal level program to address climate change.    » read more »

At Energy and Environmental Advisory Committee, Program Director Tyson Slocum Will Advocate Reining in Financial Speculators

May 13, 2009 -- WASHINGTON, D.C. – Tyson Slocum, director of Public Citizen’s Energy Program, today begins his service to the U.S. Commodity Futures Trading Commission’s Energy and Environmental Markets Advisory Committee. In this capacity, Public Citizen will be providing advice to federal regulators on how best to regulate energy commodity markets and emerging carbon emission markets as part of proposed cap and trade climate legislation.    » read more »

Auction off "allowances" for heat-trapping emissions that cause global warming or give them away? That is the question.

April 10, 2009 -- John Holdren, President Obama's science adviser, told the Washington Post this week that the administration is considering delaying auctioning 100 percent of the heat-trapping emission credits or "allowances" that would be created under a climate program. "[W]hether you get to start with [a 100-percent auction] or get there over a period of time," he said, "is something that's being discussed."

Duke Energy, a member of a coalition of 25 companies and five environmental organizations called the U.S. Climate Action Partnership, wants to wait 10 years before moving to a 100-percent auction.    » read more »

N.Y. Governor Should Stand Strong on Auctions, Science Group Says

CAMBRIDGE (March 17, 2009) — The Regional Greenhouse Gas Initiative (RGGI), a partnership among 10 Northeastern states to reduce global warming emissions from power plants, tomorrow will conduct its third auction of carbon-dioxide-emission permits under its cap-and-trade system. The auction's results should be available by Friday.

According to the Union of Concerned Scientists (UCS), the auction will demonstrate that well-designed cap-and-trade systems are capable of adjusting to economic fluctuations. Member states in the partnership, the group said, should rebuff any industry requests for free allowances.    » read more »

March 11, 2009 -- United States Senate, Washington, D.C. , March 11, 2009 -- Chairman Conrad, Ranking Member Gregg, and Members of the Committee, thank you for the opportunity to appear before you today to discuss the President’s Fiscal Year 2010 Budget.

The President’s Budget recognizes the enormous challenges and threats we face because of the ways we use energy. Today, we import roughly 60 percent of our oil, draining resources from our economy and leaving it vulnerable to supply disruptions. Much of that oil is controlled by regimes that do not share our values, weakening our security. Additionally, if we continue our current rates of greenhouse gas emissions, the consequences for our climate could be disastrous.    » read more »

WASHINGTON (March 5, 2009): A broad coalition of business, professional, energy, and environmental organizations released recommendations today on the role of energy efficiency in federal climate change legislation. Reducing the Cost of Addressing Climate Change Through Energy Efficiency is available at http://aceee.org/energy/climate/leg.htm.    » read more »