Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

GOP Continues Efforts to Block GHG Regulations

Share on Stocktwits

Source:

"GOP's spending legislation would bar EPA from regulating GHG emissions."

House Republicans on Friday continued an assault on the Environmental Protection Agency (EPA), introducing spending legislation that would prohibit the agency from regulating carbon dioxide emissions.

The continuing resolution (CR) would also cut funding for energy and climate research, according to the New York Times.

The CR would fund government operations through September 30. It seeks to slash $100 billion from the fiscal 2011 budget that President Obama proposed last year.

The latest revisions to the CR have vastly increased proposed spending cuts from the $32 billion originally proposed by House Appropriations Committee Chairman Hal Rogers (R-Ky).

As submitted, the CR would cut the EPA's budget by 29% over fiscal 2010 levels, from $10.3B–$7.3B. It would block funds for EPA regulations of greenhouse gases (GHGs) from stationary sources, for the rest of the fiscal year.

In recent weeks, senators of both parties have proposed bills that would prevent the federal government from regulating GHGs.

Sen. John Barrasso (R-Wyo.) introduced a bill that would stop the EPA directly regulating GHGs under the Clean Air Act, as the EPA is now attempting to do. The EPA has ordered states to begin issuing GHG permits to big emitters like oil refineries, coal-burning power plants, cement factories and glassmakers.

Sen. Jay Rockefeller (D-W.Va.) introduced a less aggressive bill that would delay EPA regulation of industrial carbon dioxide emissions by two years.

EPA Administrator Lisa Jackson last week defended the agency's greenhouse gas regulations before House Republicans.

The CR would cut the EPA's Energy Star program by $10.5M, taking it to about $43M. The DOE's Energy Efficiency and Renewable Energy program would be cut by $900M from $2.3B.

Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe