Two U.S. senators will release on Wednesday a draft climate bill that calls for slightly higher greenhouse gas cuts by 2020 than an earlier version approved by the House of Representatives, but that also includes provisions designed to ease the financial burden of cap-and-trade legislation on business and industry.

The bill unveiled by Senators Barbara Boxer (D-Calif.) and John Kerry (D-Mass.) calls for a 20 percent cut in greenhouse gas emissions below 2005 levels by 2020, as opposed to a 17 percent cut in the House version.

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Four Democratic U.S. senators are calling on their leadership to pass legislation setting renewable energy targets but to postpone the key element of a major climate and energy bill, which would put a cap and a price on carbon dioxide emissions.

The move by the senators — Blanche Lincoln of Arkansas, Ben Nelson of Nebraska, and Kent Conrad and Byron Dorgan, both of North Dakota — could pose a major challenge for cap-and-trade legislation that was passed by the House of Representatives in June and is now before the Senate.

Referring to the renewable energy and cap-and-trade provisions, Sen. Lincoln told Bloomberg News,
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“No Drama” Obama somehow managed to step in it again last week, plunging himself into the Skip Gates arrest and racial politics when he was meant to be drumming up support for health care reform.

If the measure of how badly the White House narrative veered off course is to observe that many of the Sunday shows spent more time on ObamaGates (I might have to trademark that one) than they did on health care, it is worth noting that Waxman-Markey is barely in the rear view mirror anymore. It does not appear to be on the Senate’s radar either.

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President Obama is the only person capable of speaking directly to the American people in a way that will correct the course of climate change legislation in Congress before it is too late. Congress has never been closer to enacting a price on pollution related to global warming than it is today but proposed legislation is in serious jeopardy of being torpedoed by misinformation and most importantly, a lack of leadership. Congress risks the viability of climate change law further by the method in which it passes related legislation; climate change is a long-term fight and the public must perceive it to be like other continuing programs like Medicare and Social Security.

Propaganda about the effects of cap-and-trade on the economy is one of the primary factors that could bring it down in the Senate. The opposition framed cap-and-trade as a threat to economic growth and  a national energy tax; in response supporters of legislation have described it as a jobs bill. Neither are entirely true but the opposition’s argument is easier to believe, despite evidence to the contrary. (more…)

EnergyWorks CR is going to spend the week taking a closer look at how the Senate is likely to mark-up the already near-unrecognizable Waxman-Markey bill that was passed 219-212 in the House late Friday. We will look with special attention at what is likely to happen to the transmission siting authority proposals on the Senate side, particularly in light of the recent action in the courts on FERC’s existing “backstop” authority over transmission.

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