Senate to consider limits on carbon dioxide emissions

Senate to consider limits on carbon dioxide emissions

Lawmakers are looking to the EU's Emissions Trading System for guidance on managing permit price volatility as they consider the nation's first-ever bill limiting the emissions.

By Alexander Hart

10:32 AM PDT, September 15, 2009

Reporting from Washington

While healthcare dominates the headlines, the Senate is preparing to consider a bill that could dramatically reshape the economy by setting the nation's first-ever limits on carbon dioxide emissions.

But to assess the potential effect at home, lawmakers will be looking abroad in a hearing today to the European Union, which began a troubled carbon-trading program in 2005.

The Senate Committee on Energy and Natural Resources will hear testimony today and Thursday about the economic effects of limiting carbon dioxide emissions. In doing so, the senators will be bombarded with information and lessons from the EU's Emissions Trading System.

This article continues at