After the passage of the American Clean Energy and Security Act (ACES) in the House of Representatives this summer, I was quite optimistic that the bill (in some form) would pass the Senate yet this year too.

But I clearly underestimated tumultuous health care debate. And now I wonder… has climate change fallen by the wayside? After the dust settles from the exhaustive health care fight, will there be any momentum left to tackle climate change this year?

I think it depends how quickly health care reform can happen this fall. While climate change legislation certainly won’t be ruled out for 2010 if it doesn’t happen in 2009, the anticipation of (finally) getting some meaningful policy passed in 2009 was the hope of many clean energy supporters.

Although quiet on the topic as of late, President Obama hasn’t forgotten about his campaign promise to cut emissions: at the end of the month, he’ll address the issue at a special United Nations summit aimed at jump-starting talks on a post-Kyoto plan. After eight years of nothingness from the Bush administration, the world (including us Americans) will surely be paying attention and listening for a timeline and priorities.

And in the meantime, other members of the Obama team are continuing to work on a smarter energy policy. Last week, chief economist in the Obama administration’s Treasury Department, Alan Krueger, argued before a Senate panel that current U.S. tax law distorts the economy by directing too much capital to the oil and gas business. This will have to be changed in order to more fairly promote clean energy and cut our over-reliance on fossil fuels. Krueger said:

“To the extent that current subsidies for the oil and gas industry encourage the overproduction of oil and natural gas, they divert resources from other, potentially more efficient investments, and they are inconsistent with the Obama administration’s goals to reduce greenhouse-gas emissions and build a new, clean energy economy.”

Businesses haven’t forgotten about legislation either: Last week, 12 major companies delivered a letter to the Senate urging swift action on climate change. These companies (and others) have wisely been anticipating carbon dioxide (CO2) regulation for years and so have made their business practices more efficient and cut down on emissions. Signatories include Dell (Nasdaq: DELL), DuPont (NYSE: DD), FPL Group (NYSE: FPL), Google (Nasdaq: GOOG), HP (NYSE: HPQ), Johnson & Johnson (NYSE: JNJ), Levi Strauss & Co., Nike (NYSE: NKE) and PG&E Corporation (NYSE: PCG):

“A rapidly changing climate is reshaping the American landscape and poses a long-term threat to our nation’s economy and to our children’s future… We…urge the Senate to pass a bill this year that will reduce U.S. emissions of greenhouse gases…and jumpstart a clean energy economy….”

Climate change legislation could still happen in 2009. With the United Nations Climate Change Conference coming up in December in Copenhagen, we’ll likely see more coverage and pressure on the U.S. to pass meaningful change. It’s about time.

Via Treehugger, CNNMoney.com and SustainableBusiness.com
Photo credit: Kevin Burkett