7. The $60 billion allocated for Carbon Capture and Sequestration (CCS) is triple the amount of money for basic research and development in the bill. We should be pressuring China, India and Russia to slow and stop their power plants now instead of enabling their perpetuation. We cannot create that pressure while spending unprecedented amounts on a single technology that may or may not work. If it does not work on the necessary scale, we have then spent 10-20 years emitting more CO2, which we cannot afford to do. In addition, those who will profit from the technology will not be viable or able to stem any leaks from CCS facilities that may occur 50, 100, or 1000 years from now.
8. Carbon markets can and will be manipulated using the same Wall Street sleights of hand that brought us the financial crisis.
9. It is regressive. Free allocations doled out with the intent of blunting the effects on those of modest means will pale in comparison to the allocations that go to polluters and special interests. The financial benefits of offsets and unlimited banking also tend to accrue to large corporations. And of course, the trillion dollar carbon derivatives market will help Wall Street investors. Much of the benefits designed to assist consumers are passed through coal companies and other large corporations, on whom we will rely to pass on the savings.
10. The Renewable Electricity Standard (RES) is not an improvement. The 15% RES standard would be achieved even if we failed to act.
11. Dirty energy options qualify as "renewable"-: The bill allows polluting industries to qualify as "renewable energy."- Trash incinerators not only emit greenhouse gases, but also emit highly toxic substances. These plants disproportionately expose communities of color and low-income to the toxics. Biomass burners that allow the use of trees as a fuel source are also defined as "renewable."- Under the bill, neither source of greenhouse gas emissions is counted as contributing to global warming.
12. It undermines our bargaining position in international negotiations in Copenhagen and beyond. As the biggest per capita polluter, we have a responsibility to take action that is disproportionately stronger than the actions of other countries. It is, in fact, the best way to preserve credibility in the international context.
13. International assistance is much less than demanded by developing countries. Given the level of climate change that is already in the pipeline, we are going to need to devote major resources toward adaptation. Developing countries will need it the most, which is why they are calling for much more resources for adaptation and technology transfer than is allocated in this bill. This will also undercut our position in Copenhagen.
"I offered eight amendments and cosponsored two more that collectively would have turned the bill into an acceptable starting point. All amendments were not allowed to be offered to the full House. Three amendments endeavored to minimize the damage that will be done by offsets, a method of achieving greenhouse gas reductions that has already racked up a history of failure to reduce emissions -- increasing emissions in some cases -- while displacing people in developing countries who rely on the land for their well being.
"Three other amendments would have made the federal government a force for change by requiring all federal energy to eventually come from renewable resources, by requiring the federal government to transition to electric and plug-in hybrid cars, and by requiring the installation of solar panels on government rooftops and parking lots. These provisions would accelerate the transition to a green economy.
"Another amendment would have moved up the year by which reductions of greenhouse gas emissions were required from 2030 to 2025. It would have encouraged the efficient use of allowances and would have reduced opportunities for speculation by reducing the emission value of an allowance by a third each year.
"The last amendment would have removed trash incineration from the definition of renewable energy. Trash incineration is one of the primary sources of environmental injustice in the country. It a primary source of compounds in the air known to cause cancer, asthma, and other chronic diseases. These facilities are disproportionately sited in communities of color and communities of low income. Furthermore, incinerators emit more carbon dioxide per unit of electricity produced than coal-fired power plants.
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