Washington, D.C. – Senators Pete Domenici and Jeff Bingaman today will further advance the national dialogue on climate change in a paper which outlines key remaining issues that must be resolved. The document explores the mechanics of operating a market-based greenhouse gas reduction program and seeks input from interested stakeholders on several specific issues.

The paper underscores the senators’ ongoing commitment to seeking a solution that reflects the Sense of the Senate resolution adopted last June to adopt a mandatory, economy-wide, market-based program to reduce greenhouse gas emissions. Since passage of that resolution, Chairman Domenici has conducted two full committee hearings on climate change, and staff has participated in a series of workshops/meetings with business and environmental stakeholders. These group discussions focused on how to design the most effective, efficient and equitable emission reduction program and resulted in the “think piece” being released today.
At 2:30 p.m. today, Alex Flint and Bob Simon will meet with reporters to discuss this climate change study. Press credentials are required.

What: Distribution and Briefing on Climate Change white paper
Who: Energy Committee Staff Directors Alex Flint and Bob Simon
Why: To discuss the joint-staff paper on climate change policy
Where: Dirksen 366  – Energy Committee hearing room
When: Thursday, February 2, 2:30 p.m.

The Energy Committee will hold a climate change workshop this spring and will select panelists based on specific proposals in response to this paper. Chairman Domenici and Sen. Bingaman recognize that there are many ways to structure a greenhouse gas program, including carbon taxes, technology incentives and voluntary incentives. The purpose of this process is to aid the committee in developing solutions that conform to the mandatory, economy-wide, market-based requirements set forth in the Sense of the Senate resolution. The document will be distributed to reporters at the briefing and posted afterward on the committee’s website (http://energy.senate.gov).