Statement of EDF President Fred Krupp on New House Climate Legislation

FOR IMMEDIATE RELEASE

Contact: Tony Kreindler, EDF, 202-572-3378 or 202-210-5791 (cell)

(Washington -- October 7, 2008) “The release today of new draft climate legislation by Energy and Commerce Committee Chairman John Dingell and Energy and Air Quality Subcommittee Chairman Rick Boucher is further confirmation that passing cap and trade legislation remains high on the agenda of congressional lawmakers and a boost for prospects of a bill next year.

“We appreciate that Chairmen Dingell and Boucher are moving forward with their bill in this critical economic time for America. Cap and trade is the energy security and economic revitalization policy we desperately need: one that creates new manufacturing jobs that can’t be outsourced and investment in clean energy that doesn’t come from unfriendly nations overseas.

“The unbending science demands that we reduce global warming pollution far enough – and fast enough – to protect us from the worst consequences of climate change.  The near-term targets and timetables in the current draft of the proposal fall far short of that goal. EDF will continue to push for strong emissions reduction targets in the early years of the program as discussions move forward. Importantly, their proposal appears to manage costs without provisions that would bust the emissions cap.

“We look forward to working with the chairmen, along with leadership and the new president, to pass a bill that protects the climate and delivers the economic stimulusAmerica needs now more than ever.”

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A leading national nonprofit organization, Environmental Defense Fund represents more than 500,000 members. Since 1967, Environmental Defense Fund has linked science, economics, law and innovative private-sector partnerships to create breakthrough solutions to the most serious environmental problems. For more information, visit www.edf.org