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Home Growing Green The Proposed American Clean Energy and Security Act of 2009 and Related Energy/Environment Federal Legislation: Considerations for the Texas Economy
The Proposed American Clean Energy and Security Act of 2009 and Related Energy/Environment Federal Legislation: Considerations for the Texas Economy PDF Print E-mail
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Written by Center for Energy Economics at the University of Texas at Austin’s Bureau of Economic Geology   
Tuesday, 30 June 2009 09:57

Executive Summary

Considerations for the Texas Economy PDF
 


The Bureau of Economic Geology's (BEG's) Center for Energy Economics (CEE)2 was asked to advise and assist the Texas Comptroller of Public Accounts (CPA) in its evaluation of potential State impacts associated with key Federal legislative and regulatory initiatives. Among these, of most importance for CPA is the proposed American Clean Energy and Security Act of 2009 (ACESA, HR 2454) and related policy and regulatory actions to address greenhouse gas (GHG) mitigation in the United States.

 

At more than 900 pages, ACESA is broad in scope and extensive in application, encompassing actions that would permeate throughout the US economy and society. ACESA 2009 includes both direct energy titles for spurring development of clean energy (such as renewable energy standards and incentives for carbon capture and sequestration or CCS) and promoting energy efficiency as well as the major global warming title. The latter entails creation of emissions allowances (which can be bought, sold and traded with no restrictions). disposition of allowances, consumer and sensitive industry protections and adaptation provisions. 3 The chart below illustrates the annual caps on carbon dioxide (C02) equivalent emissions that are central to ACESA.


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