The Source - Winter 2008 - (Page 39)

legislative outlook Advocacy: APGA accomplishments and what to expect with the new administration By Nate Hill CLIMATE Climate change legislation was brought to the Senate floor this past in June for debate. The legislation, titled America’s Climate Security Act, sponsored by Senators Joseph Lieberman (D-Conn.) and John Warner (R-Va.) was the first cap-andtrade bill to pass through the Environment and Public Works Committee. The bill was debated for a short time before it was pulled from the floor after it was clear there was not enough support for the bill to pass the Senate. While the House of Representatives held several climate change hearings this Congress, it did not bring any legislation to the floor. The consensus of many lawmakers is that the new Congress and administration would provide a better opportunity to enact climate change legislation. Natural gas should be a part of the solution to climate change because it is cleaner than other fossil fuels and more abundant than other renewable sources. Speciﬁcally, APGA believes that: • Strict carbon controls could lead to massive fuel switching from coal to natural gas, which could drastically increase the price of natural gas for consumers. For every unit of natural gas demand created from carbon reduction regulations, Congress should open access to equal units of domestic supply. • The most logical point of regulation (the entity required to obtain and turn in greenhouse gas permits) for the natural gas industry in a federal carbon reduction program is ‘upstream’ from the LDC. Upstream regulation would reduce the number of sources that must be regulated and simplify administration of the program. • LDCs are the best vehicle to receive government allocations and auction revenue set aside to help minimize the rising costs of energy that consumers could face as a result of climate change legislation. • Any climate change plan should include incentives for the use of natural gas in homes and businesses. TRANSPARENCY Congress passed a Farm Bill in May that contained language supported by the APGA to “close the Enron loophole” and increase transparency. As prices for oil and natural gas increased sharply this past summer, Congress turned its attention to whether excess speculation, manipulation or market abuses were contributing to this price volatility. Congress made several attempts to pass additional market transparency legislation but ultimately was unable to enact any new transparency provisions into law. Each chamber held several hearings in 2008 to examine how excess speculation, manipulation and potential market abuses impact the price of oil and natural gas. APGA THE SOURCE | WINTER 2008 , VOL. 1, ISSUE 2 39

Table of Contents Feed for the Digital Edition of The Source - Winter 2008

The Source - Winter 2008 Contents First Person The Bridge to Renewable Energy Future Natural Gas: The Comfortable, Responsible Energy Solution Gas Hydrates: Poised for the Next Phase The Role of Natural Gas in a Carbon-Constrained World Natural Gas Prepays Taking the Leap to Natural Gas Vehicles The Pipeline Legislative Outlook Advertiser's Index Advertiser.com At Last

The Source - Winter 2008

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