US Climate Bill May Cut Oil Imports 40%

If Kerry and Lieberman’s climate-change bill became law, oil imports in 2030 would likely fall to a range of 6.6 million to 7.4 million barrels, or 9 percent to 19 percent below the business-as-usual estimate, the report said.

Kerry and Lieberman’s legislation revamps a cap-and-trade bill that stalled in the Senate after narrowly passing the House last year. Senate Majority Leader Harry Reid, a Nevada Democrat, told reporters May 18 he’ll decide next month whether to bring up the new climate-change bill for a vote.

SF Cron