Senate Majority Leader Harry Reid (D-Nev.) has ended efforts to include cap-and-trade provisions in energy legislation the Senate is expected to consider. Instead, Reid plans to pass a watered down bill that will address offshore oil drilling and energy efficient buildings, natural gas vehicles and funding for the Land and Water Conservation Fund.
Reid plans to have the Senate consider the bill before the August recess. The decision to exclude a cap on greenhouse gases is seen as a major setback for the climate change bill passed by the House last year. Obama made “cap and trade” a significant element of his environmental legislative agenda but this does not mean the efforts were good legislation.
The science behind the theory of climate change, which was the driving force behind cap and trade, is facing fundamental challenges. The credibility of researchers and institutions are in question.
The House bill includes cap-and-trade provisions strongly opposed by Farm Bureau.