S 309 in Congressional Session 110

Bill Number : S 309

Title : A bill to amend the Clean Air Act to reduce emissions of carbon dioxide, and for other purposes.

SUMMARY AS OF:
1/16/2007--Introduced. Global Warming Pollution Reduction Act - Amends the Clean Air Act to set forth provisions concerning global warming pollution emissions. Directs the Environmental Protection Agency (EPA) to: (1) set milestones to reduce the aggregate net levels of emissions (authorizes EPA to establish market-based programs to achieve such reduction); (2) require each fleet of automobiles sold by a manufacturer beginning in model year 2016 to meet emission standards; (3) contract with the National Academy of Sciences to study the potential contribution of the non-highway portion of the transportation sector towards meeting the emission reduction goal; (4) require that electric generation units meet an emission standard that is not higher than the emission rate of a new combined cycle natural gas generating unit; and (5) establish a low-carbon generation trading program. Requires covered generators to provide a minimum percentage of the base quantity of electricity produced for sale from low-carbon generation. Requires EPA to: (1) establish a competitive grant program for geological disposal deployment projects; and (2) carry out a global climate change standards and processes research program. Expresses the sense of the Senate that federal funds for clean, low-carbon energy research, development, and deployment should be increased by at least 100% each year for 10 years. Directs: (1) EPA to promulgate requirements concerning the energy efficiency and peak load reduction of electricity suppliers and to establish a renewable energy credit program; (2) the Secretary of Agriculture to establish standards for accrediting certified reductions in carbon dioxide emissions through biological sequestration activities; and (3) major stationary sources to report to EPA on emissions of global warming pollutants. Requires the President to establish the Task Force on International Clean, Low Carbon Energy Cooperation. Authorizes the President to adjust, suspend, or waive any regulation promulgated pursuant to this Act in a national emergency. Requires EPA to require that gasoline contain the applicable volume of low-carbon renewable fuel. Directs EPA to require manufacturers to meet standards for new motor vehicles or engines. Requires executive agency automobiles to be as fuel-efficient as practicable. Requires: (1) the Secretary of Commerce to report on the effects of U.S. failure to adopt measures that require or result in a reduction in total emissions in accordance with the goals of the United Nations Framework Convention on Climate Change; (2) the Securities and Exchange Commission (SEC) to require securities issuers to inform investors of risks relating to global warming; and (3) the SEC to clarify that U.S. commitments to reduce emissions under the Framework are considered to be a material effect and that global warming constitutes a known trend. Directs federal agency environmental impact statements or analyses to evaluate the effects on, and impact of, global warming.