The American Power Act

Much has been said about the American Power Act, introduced to the Senate on May 12. It would incentivize more offshore drilling and nuclear power. It would limit the EPA's capacity to regulate greenhouse gases under the Clean Air Act. And it does not nearly reduce greenhouse gas emissions enough.

Some of these complaints are misleading: For instance, the American Power Act only limits the EPA's ability to regulate under the Clean Air Act because it establishes a cap-and-trade system for large carbon emitters. EPA would deal with these emitters under the American Power Act, while still reserving the ability to regulate other emissions, like automotive emissions, under the Clean Air Act.

And in spite of these complaints, the American Power Act deserves our support. It finally sends a signal that the United States will regulate greenhouse-gas emissions. Such a signal is needed for entrepreneurs to invest in researching and implementing green energy. Indeed, it is precisely what they are waiting for.

And yes, it does not reduce greenhouse-gas emissions enough. But it is much easier to establish the cap-and-trade framework and adjust later on. And as Joe Romm reminds us, this is exactly what happened with the Montreal Protocol and the Clean Air Act(s).

Yes, the bill is flawed and we should lobby the Senate to improve it. But those flaws should not prevent us from taking the first real step to fight global warming and passing this bill.