Sunday, June 13, 2010

American Power Act Controversy

The American Power Act is a bill that was introduced to Congress by senators John Kerry and Joe Lieberman. Already, the bill is garnering a lot of controversy. It seeks to make companies accountable for their greenhouse emissions. Each company would have so many credits to use. If they don't use their energy credits, they can sell them to other companies. If a company needs more credits, they would have to purchase them somewhere.

There's a question over who would benefit from the bill. The American public is skeptical. Democrats are pumped about the bill, and some estimate that they will try to piggy back the legislation to an oil spill response bill. This is definitely something that those concerned about green energy should keep an eye on.

The bill would reduce emissions - but at what cost. Some venture to say that the purpose of the bill is to drive energy prices so high that consumption ultimately decreases. This would hurt the consumer, and cut jobs if you listen to the bills opponents.

The bill is also called the cap-and-trade bill. It will remain controversial - especially given the BP Gulf oil spill.

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