Rep. Ed Markey (D-MA), chairman of the House Select Committee on Energy Independence and Global Warming, and a sponsor of the House-passed cap-and-trade legislation, participated in a good public discussion yesterday at the Capitol sponsored by the American Petroleum Institute and Newsweek magazine.
Given the astonishing expansion of natural gas in the United States thanks to hydrofracturing and directional drilling making shale deposits accessible, it was encouraging to hear Chairman Markey’s comments in support of its development.
Rep. Ed Markey: Ninety percent of all new electrical capacity in America since 1990 has been natural gas, and it’s going to continue on that way as a base load with the new mandates for renewable electricity in the states having a higher percentage increasingly coming from that source. But natural gas is going to do very well in the future, and the discoveries from the Marcellus Shale all the way through Barnett, that is all the way from New York down to Texas, are going to be big source of new electrical generation.
Howard Fineman, Newsweek: As a native of Pittsburgh, I’m really excited about the Marcellus Shale. I’m hoping maybe there’s some under my relative’s land. (laughter)
Here’s the sound clip.
That was just one exchange in a solid 90-minute program. API’s Jack Gerard was especially effective in detailing the many problems with the cap-and-trade legislation, starting with its destruction of jobs. He said it was time for “a reset” in Congress on climate legislation, a sound sentiment.
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