House Chairmen Waxman, Markey Release Draft of Energy and Climate Legislation; Among the Many Provisions Are Cap-and-Trade, Harmonization of CAFE and California Vehicle Regulations, and Low Carbon Fuel Standard
Green Car Congress
APRIL 1, 2009
The program reduces the number of available allowances issued each year to ensure that aggregate emissions from the covered entities are reduced by 3% below 2005 levels in 2012, 20% below 2005 levels in 2020, 42% below 2005 levels in 2030, and 83% below 2005 levels in 2050. The draft directs EPA to create a “strategic reserve” of about 2.5
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