It’s been a big week in Greenhouse Gas regulation land. Huge boost for cleantech sales executives and afficianados everywhere.
EPA announces a slightly delayed and somewhat more limited GHG regulation rule.
Starting in July 2011, all facilities greater than 75,000 tons per year in emissions will have to get GHG permits.
And John Kerry and Joe Leiberman push ahead in the Senate with cap and trade and climate saving legislation.
Lots of good in here:
– Power sector gets capped early on
– Industrial/manufacturing gets phased in
– Transport included down the road as well
– Domestic offsets included (think massive cashflows to the ag belt)
– International offsets included
– International linkages included
– Phased in border tax for non participating countries
– Riddled with subsidies and wealth transfer and buy-offs, but isn’t that just par for the course with Washington?
– Price collar ($12-$25/ton) – guts the heart of compliance (market based mechanism to set a “real” carbon price, but the Senate should tell the market what the right price should be? Joe? John? You do actually WANT emissions reductions, right?)
– And no Republican support – guts the odds of passage.
All in all a good week, even though the EPA will get sued six ways to Sunday and without Republican support Kerry-Leiberman has zero chance of passage, we’ll give it a two thumbs up. This is a drastic improvement.