Climate Change Bill Sparks Controversy

A climate change bill that passed the U.S. House earlier this week has caused controversy among the energy community.

Thursday, July 2nd 2009, 12:04 am

By: News 9


By Dave Jordan, NEWS 9

OKLAHOMA CITY -- A climate change bill that passed the U.S. House earlier this week has caused controversy among the energy community.

The American Clean Energy and Security Act is designed to reduce the amount of carbon emissions from oil and gas companies. But, Devon Energy CEO Larry Nichols said it not only unfairly targets those companies but it could also force tax payers to pay more for energy.

"While this bill masquerades as a new energy bill, as an environmental bill, it's really not. It's really a tax bill. That's what it is," Nichols said.

Nichols said energy companies like Devon would pay huge taxes because of the bill, and in the end, it would make Americans more dependent on foreign oil. He also said natural gas doesn't produce nearly the amount of carbon dioxide as coal companies, which under the bill aren't subject to those high taxes.

"It rewards the wrong energy. It rewards coal and punishes natural gas. That is totally illogical," Nichols said.

Finance Professor Ron Shaw said he understands why Nichols is upset.

"You got a situation where the government is taxing people, taxing them to subsidize their competitors," Shaw said.

He said it will result in the burden being passed on to consumers.

"Everyone is going to have to pay more at the pump. You're also going to have to pay more for the gas that heats your homes or the heating oil that heats your home. Everything that deals with energy will be more expensive," Shaw said.

The measure to curb global warming has come at a time when many in the international community are questioning whether there's really a problem and whether it's man-made.

NEWS 9 Chief Meteorologist Gary England has long questioned the science on the issue of global warming.

"It's just not there. What they're finding is proof otherwise. In fact, the earth has been cooling for the last 10 years," England said.

The bill now heads to the U.S. Senate for a vote, which will likely happen this fall.

"We're actually fairly hopeful that the Senate, much more mindful of the long-term ramifications than the House, will really take a harder look at this," Nichols said.

Four members of Oklahoma's congressional delegation voted against the bill. Congressman John Sullivan was not in Washington for any votes. Forty-four democrats also voted against the bill.

More on NEWS 9:

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