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<?xml:namespace prefix = st1 ns = “urn:schemas-microsoft-com:office:smarttags” />Richard Morrison, 202.331.2273
Washington, D.C., March 22, 2005— The Department of Energy (DOE) today released its long-awaited revised guidelines for voluntary reporting of greenhouse gas emissions. The Competitive Enterprise Institute (CEI) submitted six comments during 2002-2004 warning DOE (a) that it lacks legal authority to award or certify emission credits applicable to a future regulatory climate program, and (b) that a crediting program is undesirable because it would build a corporate lobbying clientele for Kyoto-style energy rationing policies. The guidelines released today specifically do not award or certify tradable emission credits.
“DOE is to be congratulated for abiding by the law despite strong pressure from special interests to set up a credit program, which would allow them to profit from higher energy costs at the expense of consumers. Awarding Kyoto credits would shift the political balance of power in favor of policies like the McCain-Lieberman Climate Stewardship Act,” said CEI Senior Fellow Marlo Lewis.
Also today, in a joint letter from a dozen free market and conservative groups, CEI cautions the Senate Energy Committee that a provision in Senator Chuck Hagel’s S. 388, the Climate Change Technology Deployment and Infrastructure Credit Act, would give DOE the authority it lacks under current law.
“Sadly, by expanding the ranks of energy-rationing profiteers, the early credit provision in Senator Hagel’s bill would sweep into history’s dustbin his great legislative achievement, the anti-Kyoto Byrd-Hagel resolution. Our joint letter alerts the Senate to the hidden political and economic perils of an early credit program,” said Lewis.
To see a copy of the coalition letter, click here.