Energy Market and Economic Impacts of S.1766, the Low Carbon Economy Act of 2007

摘要

This report responds to a request from Senators Bingaman and Specter for an analysis of S. 1766, the Low Carbon Economy Act of 2007. S. 1766 establishes a mandatory greenhouse gas (GHG) allowance program to maintain covered emissions at approximately 2006 levels in 2020, 1990 levels in 2030, and at least 60 percent below 1990 levels by 2050. Gases subject to allowance requirements include carbon dioxide (CO2) from fossil fuels, the fluorinated gases reported under United Nations conventions (hydrofluorocarbons, perfluorocarbons, and sulfur hexafluoride), and nitrous oxide from adipic and nitric acid production. Other gases, including other sources of nitrous oxide and emissions of methane, are not subject to the allowance requirement directly, but reductions can be credited and applied as emissions offsets.