Morning News Roundup on Kerry-Boxer Bill

This morning, several newspapers have unfurled their analyses of the newest version of the Kerry-Boxer climate bill, which was released in its "Chairman's Mark" form late Friday night. The bill is similar to Waxman-Markey in its awesome length (923 pages) and breadth. For now, though, now it has a lower overall reduction target (GHG emissions 20% below 2005 levels by 2020, as compared to 17% in Waxman-Markey), and seems to place a greater emphasis on shoring up the coal power industry through carbon capture and sequestration (CCS). As the New York Times describes it, the Kerry-Boxer bill

largely mirrors a House version of legislation that passed in June, with a few tweaks here and there. The similarities between the two bills leave lobbying interests largely in the same place they were in months ago[ with e]nvironmentalists . . . settling in to defend the new bill's stronger emissions reduction targets, . . . [and] many industries and interest groups . . . unsatisfied with their share of the proceeds.

Of course, the idea that environmentalists are simply settling in to defend the bill is a little misleading, since internally at least, the environmental community was quite disappointed in the final version of Waxman-Markey. (In their eyes, it started out a little weak, and got significantly weaker, and more compromised, as it went through the committee process.) What environmentalists would have liked to see was a much stronger version of the bill coming out of Boxer's committee, with reinvigorated renewable and energy efficiency targets, stronger protections for forests and natural resources in the scramble for biofuels, and less emphasis on trying to curb the negative effects of (what they see as) irredeemably dirty sources of energy, like coal. (Many in the environmental community have severe doubts that CCS will ever happen.)

The rest of the Times story can be read here. The Wall Street Journal, which notes that the oil industry, in particular, is unhappy with its share of the pie, posted an article here. The Washington Post's take can be found here.