Today we were inundated with e-mail alerts and blogs that provide details of the Waxman- Markey plan drafted by the House.
The plan outlines a cap and trade program to regulate greenhouse gases. The draft proposal will use 2005 as a base year and require that U.S. greenhouse gas emissions be reduced by 20 percent by 2020, 42 percent by 2030 and 83 percent by 2050. This draft legislation is a bit more aggressive than the timetable proposed by the administration.
In addition the legislation would require utilities to generate 25 percent of their electricity from renewable energy by 2025.
Key provisions, yet …