Lieberman-Warner Bill

After a week-long debate, a cloture vote was held at the US Senate today to determine the future of the Lieberman-Warner bill. Unable to reach the 60 vote mark that was needed to invoke cloture, the bill was defeated, 48-36. The bill - in favor of a carbon cap-and-trade

Although no one is expecting Lieberman-Warner bill (S. 2191) to pass, the American version of carbon economics is beginning to come to light. Although the bill seeks to cut greenhouse gases by 35%-40% from 2005 levels, speculations on Capitol Hill are bleak, and the bill will be vetoed by President Bush in its present form...

The market for Certified Emission Reductions (CERs) or the carbon credits issued by the UN's Clean Development Mechanism (CDM), gained momentum last month when the Lieberman-Warner bill was amended to make provision for US industries to purchase international carbon offsets. The prices increased throughout May and their upward trend continues this month as well..