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Valero Energy Corporation Message Board

  • bluecheese4u bluecheese4u Jun 25, 2013 8:55 AM Flag

    Obama’s climate change plan tackles power plants — not refineries

    Obama’s climate change plan tackles power plants — not refineries

    Posted on June 25, 2013 at 1:00 am by Jennifer A. Dlouhy

    President Barack Obama on Tuesday is set to unveil a sweeping plan to combat climate change, including setting in motion the stalled first limits on greenhouse gas pollution from existing power plants and accelerating renewable projects on federal lands.

    During a speech at Georgetown University, Obama also is expected to announce an $8 billion loan guarantee program to support investments in advanced fossil energy technologies and efficiency projects, including carbon capture and sequestration systems that hold the promise of cleaning up coal-fired power.

    Obama’s move delivers on his second-term inaugural vow to tackle climate change and his State of the Union promise to use executive powers to take action if Congress doesn’t address the issue. None of the initiatives that will be announced Tuesday require congressional action, senior administration officials said Monday.

    But they will take time, even without expected legal challenges. Under a presidential memorandum set to be issued Tuesday, Obama is directing his Environmental Protection Agency to propose new carbon dioxide emissions standards for existing power plants within a year, with a final rule expected no sooner than mid-2015. Even then, states will have time to establish their own compliance plans, a process that analysts said could stretch 18 months or more.

    Obama also will direct his EPA to re-propose a stalled plan to limit greenhouse gas emissions from new power plants, following the introduction of an initial draft rule last year that would have effectively ruled out new coal-fired power, unless it was combined with stilll-developing carbon capture technology.

    The efforts could stretch beyond Obama’s tenure in the White House, potentially putting the initiatives in the hands of a less-supportive administration.

    “We know that we have to get to work quickly to not only prop

 
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