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From: Allison.Forbes@sierraclub.org [mailto:Allison.Forbes@sierraclub.org]
Sent: Wednesday, October 17, 2007 5:48 PM
To: Allison.Forbes@sierraclub.org
Subject: [energy activists] SC statement on Lieberman-Warner cap and trade bill

FOR IMMEDIATE RELEASE: 17 OCTOBER 2007
CONTACT: Josh Dorner, 202.675.2384 (w), 202.679.7570 (m)

Sierra Club Statement on Lieberman-Warner Bill
Senators Showing Leadership, Critical Improvements to Bill Needed

Tomorrow Senators Joseph Lieberman (I-CT) and John Warner (R-VA) are expected to introduce their comprehensive global warming legislation.  The bill caps 80 percent of total U.S. emissions.  It sets out a goal of reducing capped emissions 15 percent by 2020 and 70 percent by 2050.  Taking additional energy efficiency provisions into account, the bill would result in a 51-63 percent reduction in total emissions.  The bill would initially auction only 24 percent of its allowances, rising to a 73 percent auction in 2036.  

Statement of Carl Pope, Sierra Club Executive Director

"We very much appreciate the leadership Senators Lieberman and Warner have shown by taking on this extremely important issue.  We also compliment them for having made some positive adjustments to their legislation since it was first proposed.  We applaud Senator Boxer for taking up this issue in her committee at such a critical moment.  

"The bill is a significant political step forward for the U.S. Congress, but unfortunately the legislation as introduced still falls short what is demanded by the science and the public to meet the challenge of global warming.  This comes even as U.S. states, cities, and counties move forward with ambitious, science-based proposals to tackle the issue.  We look forward to working with Senators to seek the additional improvements necessary for the bill to sufficiently address the challenge before us.  

"At this crucial moment, we must continue to insist on a global warming bill that is committed to scientific integrity and economic fairness.  In order to prevent the most catastrophic effects of global warming, we must cut emissions 80 percent by 2050--an achievable annual reduction of about 2 percent.  In order to get the market moving and bring America’s clean energy future to life, any bill must start out strong by seeking a short-term reduction on the order of 20 percent of total emissions by 2020.  Disturbances to the climate have come more quickly and forcefully than even the most pessimistic among us predicted.  The Lieberman-Warner bill, as introduced, leaves us in serious danger of reaching the tipping points that scientists tell us could lead to catastrophic changes to the climate.

"Polluters should pay for what they do and any bill must allocate allowances for the public benefit, not private windfalls.  A 100 percent auction would not only ensure that polluters pay for the damage they are doing to the climate, but would also provide the funds necessary to ensure a just transition for workers, protect consumers from rising energy costs, and make the investments in new technology needed to make the new clean energy economy a reality.  While the bill has moved in the right direction, it gives too many free allowances to polluters for far too long--enriching executives and shareholders instead of generating the funds needed to help us meet our emissions goals and ensure a smooth transition to the clean energy economy.  

"We also urge the Senate to continue to press ahead toward passage of a final energy bill.  Passing an energy bill that includes the Senate-passed fuel economy provision and the House-passed Renewable Electricity Standard will itself make real progress in the fight against global warming and set the stage for the kind of meaningful, long-term reductions that any economy-wide global warming bill must achieve."  

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Allison Forbes
National Conservation Organizer
Sierra Club Global Warming and Energy Program
(202) 548-6583