Climate Stewardship Act and the Future of Climate Change

By Lindsey Hodel
Published on February 1, 2004
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The United States has less than 5 percent of the global population but produces almost 25 percent of fossil fuel-related carbon dioxide emissions, according to U.S. Department of Energy and United Nation's statistics.
The United States has less than 5 percent of the global population but produces almost 25 percent of fossil fuel-related carbon dioxide emissions, according to U.S. Department of Energy and United Nation's statistics.
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By spending a little more on renewable energy, you can promote clear skies for everyone
By spending a little more on renewable energy, you can promote clear skies for everyone
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The first attempt by Congress to address the threat of global warming since 1998, the McCain-Lieberman Climate Stewardship Act, failed to pass the Senate by a narrow margin, but Sen. John McCain says he may reintroduce the legislation as early as this spring.
The first attempt by Congress to address the threat of global warming since 1998, the McCain-Lieberman Climate Stewardship Act, failed to pass the Senate by a narrow margin, but Sen. John McCain says he may reintroduce the legislation as early as this spring.

The Climate Stewardship Act didn’t make it through Congress
last fall, but the environment may still prove the winner.
The first attempt by Congress to address the threat of
global warming since 1998, the McCain-Lieberman Climate
Stewardship Act, failed to pass the Senate by a narrow
margin, but Sen. John McCain says he may reintroduce the
legislation as early as this spring.

McCain and the bill’s co-sponsor, Sen. Joe Lieberman,
D-Connecticut, say they are encouraged by the support the
failed bill received; the vote was a close 43-55. “We lost
a battle today,” McCain said, “but we’ll win over time
because climate change is real. And we will overcome the
influence of special interests over time.”

The Climate Stewardship Act would cap carbon dioxide (CO2) emissions from power plants, oil companies and factories,
and create an emissions trading system under which
companies that achieve more pollution reductions than
required can sell their excess reductions to other
companies to help them meet their commitments.

The aim of the legislation is to begin solving the problem
of global warming, which poses a wide range of threats to
the environment, the economy and public health. Carbon
dioxide, produced by the combustion of coal, oil and
natural gas, is the most abundant of the green house gases,
which are responsible for raising the Earth’s surface
temperature. Scientists predict global warming will cause
species extinctions, rising sea levels, an increase in
deaths from extreme heat, and the migration of tropical
diseases northward.

Kevin Curtis, National Environmental Trust vice president
of government affairs and a supporter of the
McCain-Lieberman legislation, says three weeks before the
October vote, the bill reportedly only had 32 votes firmly
supporting it and more than a dozen senators still on the
fence. “Our fear was that the bill might pull in fewer than
40 votes,” he says, which would have doomed it for the
foreseeable future. “But the majority of the undecided
senators broke in favor of the bill.”

According to information from McCain’s office, a
Massachusetts Institute of Technology (MIT) study estimated
the legislation would cost only about $20 per household.
Analysts predicted the impact on the U.S. GNP at no more
than 0.01 percent. A second study by the Boston-based
Thellus Institute predicted that if the bill becomes law,
it will reduce U.S. energy demands and save U.S. residents
$48 billion by 2020.

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