Senate OKs amendment for climate change technology development
Washington (Platts)--21Jun2005
The US Senate approved Tuesday an amendment to the energy bill to encourage the development and deployment of technologies that reduce greenhouse gas emissions. The amendment, approved by a 66-29 vote and sponsored by Sen. Chuck Hagel (Republican-Nebraska), would establish government-private sector partnerships for greenhouse gas reduction demonstration projects and provide financial aid and guarantees for companies that develop and deploy emission reduction technologies. It would authorize the State Department to coordinate aid for developing countries for demonstration projects and establish an inter-agency group to promote the export of emission reduction technologies. The amendment directs the Energy Department to lead an inter-agency process to implement a national climate change strategy. It does not mandate emission reductions. Instead, it would encourage reductions "without constraining government mandates that can't work in a multi-trillion dollar economy," Hagel said. A final vote on the energy bill is expected this week. This story was originally published in Platts Petrochemical Alert http://petrochemcialalert.platts.com
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