John Holdren, President Obama’s top scientist, presented the cold, hard facts about global warming to a receptive audience at yesterday’s Clean Power: Building a New Clean Energy Economy forum at MIT. “We are experiencing dangerous human interference now. Bigger disruptions are coming,” he said.
Tackling climate change will take more than an Apollo project and more than a Manhattan project, he said. I can’t say I’m confident we’ll see anything on that scale.
During a post-forum press conference, MIT President Susan Hockfield noted that the National Institutes of Health have a $30 billion-a-year budget, and that level of funding has helped us pull off major revolutions in healthcare over the last 30 years. But today’s budget for energy research is at best $4 billion per year, she said.
The forum focused mostly on policy, however.
Rep. Edward Markey, cosponsor of the American Clean Energy and Security Act of 2009 (aka the Waxman-Markey Bill), was ringmaster at yesterday’s event. The bill is the first draft of legislation aimed at setting a course for dealing with climate change. The forum gave Markey and the administration, represented by the president’s assistant for energy and climate change Carol Browner, an opportunity to rally the loyalists for the fight ahead in Washington.
The room was filled with major Massachusetts stakeholders in the green economy: energy startup executives, state and local officials, and MIT leadership. Not to suggest that everyone in the room was thrilled with the Waxman-Markey Bill — judging from the questions and murmurs in the room many were not.
A major point of concern is the as-yet-undetermined number of carbon credits that’ll be given away rather than auctioned off in the cap-and-trade carbon emissions portion of the bill. Obama had initially declared that 100 percent of the credits would be auctioned, but has backed off that position. Fully auctioning the credits remains in the picture but as a long-term goal, Markey said.
The cap-and-trade scheme coming out of Washington is beginning to resemble the European approach, which didn’t start off too well, but the folks from Washington are making a point of saying that they’ve learned from Europe’s mistakes. Both Markey today and Rep. Jay Inslee at the MIT Energy Conference last month used the line that sometimes it’s better to be second, suggesting a common set of talking points. (Who says Democrats can’t maintain message discipline?)
Who gets what out of the cap-and-trade system is still under discussion, but Markey said the first priority is trade-sensitive industries. At the press conference, he said he’d ultimately like to see international agreement on a sector-by-sector basis, and he gave steel as an example.
Not surprisingly, there wasn’t any discussion of the six-year window in the bill for new coal plants to come online without having to meet the new emissions standards until 2025, as highlighted by the Wall Street Journal’s Keith Johnson.
I also didn’t hear the phrase “carbon tax” at any point, and Markey and Browner avoided a question about raising the federal gas tax.
Still, Markey and Browner made some positive noises and left the impression that the administration and its Congressional allies are committed to the fight. It’ll be interesting to see if the administration treats what’s likely to be a flawed outcome as a first step or if they take what they can get, declare victory and turn their attention elsewhere.
Stay tuned for more: hearings on the Waxman-Markey Bill begin a week from today, launching what is likely to be a contentious process of forging a national climate and energy policy.