August 5, 2009 In EIA's Aug. 4 report on the Waxman bill, the Dept. of Energy finds that the bill's cap induces more than enough renewable electricity to meet the RES. "The share of renewable generation far exceeds that required to comply with the combined efficiency and renewable electricity standard in all of the ACESA cases." (p.23-24)

May 27, 2009  Rep. Henry Waxman (D-CA), Chair of the House Energy and Commerce Committee, has launched his American Clean Energy and Security Act. It will cut a large chunk (about 90% coverage) of GHG's by 17% (from 2005) by 2020. Except, it won't. We will cut much less, perhaps none at all, and pay other countries to cut emissions. Except, they might not. The U.N. offsets now being purchased by Europe for this purpose, have had lots of trouble with corruption. The Pew Center provides information and links for H.R.2454, but not the exceptions. EPA Analysis.

When is a Cap not at Cap?

Chris Van Hollen, D-MD, a close associate of Nancy Pelosi, will soon introduce a "cap and dividend" proposal. This will challenge the main House cap-trade bill coming out of Waxman's Committee. As Carbonomics explains, this is the best type of cap, and will likely lead to the untax proposal of Senator Corker and James Hansen, Al Gore's climate adviser.

Van Hollen is on Rangel's committee, which is in a turf war with Waxman. Waxman's pervious cap-trade bill, like most, was larded with giveaways. A cap is actually a very regressive tax in disguise, but refunding revenues on an equal-per-person basis, to "everyone with a social security number" cures this problem.

Without the giveaways, business support will shift from a cap to a carbon tax because business dislikes the extreme volatility of the cap's tax rate.

Representative Charles Rangel (D-NY), Chairman of the Ways and Means Committee, also want to mark up a climate bill by memorial day. Rangle said today he had not made up his mind between a cap and a tax.