Senate Majority Leader Harry Reid (D-NV) announced that while he expects a House-Senate conference on an energy bill to take place this Fall, it will likely not occur until October, after the Senate completes debate on the FY 2008 appropriations bills. Once a conference does begin, it is expected to be more difficult than originally anticipated, given the significant differences between the House and Senate versions.
We also expect Congress will renew debate on climate change legislation this Fall. While expectations were beginning to diminish that Congress would advance legislation this year, insiders are now speculating that the issue will move forward -- particularly given the recent U.S. Supreme court ruling in which twelve states and several cities sued the Environmental Protection Agency (EPA), and won, thus forcing EPA to regulate carbon dioxide and other greenhouse gasses as pollutants. The utility industry and others have expressed concern that EPA may try to regulate a standard quickly, and would prefer to have Congress address the issue instead.
Interestingly, House Energy and Air Quality Subcommittee Chairman Rick Boucher (D-VA) said this week (9/10/07) that he would prefer Congress delay its energy bill conference until passage of separate climate change legislation. He said that combining the two packages would enable Congress to present a more comprehensive bill to President Bush. Rep. Boucher has said that he will have a cap-and-trade climate change plan ready for Democratic leaders to bring to the House floor by the end of the year.
Therefore, given all the moving parts in this complex debate, in tandem with all the political posturing, we anticipate numerous hearings on climate change this Fall. It is even possible that legislation could advance at the subcommittee, or even at the full committee level, in either or both chambers of Congress, which is significant. However, it is still unlikely that a final climate bill will be enacted into law this Congress.