Energy and Economic Impacts of H.R.5049, the Keep America Competitive Global Warming Policy Act
The U.S. Department of Energy’s Energy Information Administration has released a report that analyzes the impacts of the Keep America Competitive Global Warming Policy Act (H.R. 5049), which would implement a market-based allowance program to cap greenhouse gas emissions at 2009 levels. The legislation, introduced in the U.S. House of Representatives on March 29, 2006, limits the potential economic impact of reducing greenhouse gas emissions through the sale of additional allowances at a safety-valve price, an allowance allocation program, and allowance credits for carbon sequestration projects.
This Summary Last Modified On: 4/22/2011