The Senate climate change bill will call for greenhouse gas emissions to be cut by 17 percent by 2020 and seeks to find a workable compromise between opponents and supporters of offshore drilling in light of the ongoing spill in the Gulf of Mexico.Technorati tags:
"Mindful of the accident in the Gulf, we institute important new protections for coastal states by allowing them to opt out of drilling up to 75 miles from their shores. In addition, directly impacted states can veto drilling plans if they stand to suffer significant adverse impacts in the event of an accident,” according to a document described as a "draft short summary."
The long-awaited bill, to be released in full on Wednesday, also includes a 37.5 percent state royalty share to help protect coastlines and coastal ecosystems. That could upset drilling opponents who see the royalties as an inducement for expanded offshore drilling.
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