Senate Climate Bill To Set Carbon, Drilling Limits

Law360, New York (May 11, 2010, 7:01 PM EDT) -- Comprehensive climate change legislation set to be unveiled Wednesday by Sens. John Kerry, D-Mass., and Joe Lieberman, I-Conn., would reduce carbon emissions 17 percent by 2020 and give states a greater financial stake in offshore drilling activity.

A summary of the bill, leaked late Tuesday, outlines details of the proposal, which will be formally introduced in the U.S. Senate on Wednesday.

The draft sticks close to a similar measure passed by the U.S. House of Representatives in 2009, setting mid- and long-term carbon emission reduction goals...
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