With budget battles heating up in Washington, Congress and the Obama administration are squaring off to debate energy policy legislation. While Democratic leadership favors a clean energy standard, Republican lawmakers are focused on blocking administration initiatives to regulate greenhouse gas emissions. A compromise approach might bring substantial changes to America’s national energy strategy.
In terms of the political calculus, GHG regulation faces an uncertain future, at least into 2013. And as a flood of cheap gas erodes the perception of an impending environmental crisis, politicians will have less incentive to impose carbon constraints. Does shale gas signal the end of the road for greenhouse gas regulation?
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