1:15 p.m. E.S.T. – Historic climate control legislation passes on House vote

This morning, Spokeman.com, reported that the climate bill in Congress was a little closer to approval. This afternoon, it’s a done deal. Climate control is one of President Obama’s big priorities. The bill calls for fighting global warming and boosting alternatives to fossil fuels.

Massachusett’s Rep. Edward Markey co-authored the bill with Rep. Henry Waxman, another Democrat from California. Those two are calling the bill “the most important energy and environment bill in the history of the United States.” Obama even made a short speech in the Rose Garden calling for support of the bill – on moving forward on a issue that been left on the back burner for a long time, while the environmental situation has been worsening each year.

A number of strong lobbying groups, however, are fighting the “cap and trade” legislation, including the Farm Bureau (which is strong in the Shenandoah Valley), as well as the U.S. Chamber of Commerce and the American Petroleum Institute. Opponents are labeling the bill as an “energy tax” because it calls for the introduction of energy offsets.

Factories and power plants would need to obtain permits for their greenhouse gas emissions, or buy “offsets” to cover them – such as planting trees to soak carbon dioxide from the air. It’s reported that the number of permits would fall every year, aiming to reduce emissions by more than 80 percent by 2050.

Representatives, such as Buck Keon (R) from California, say that the bill will hurt small businesses in the long run. Because energy producers will have to spend more money to produce and distribute electricity, they say that the end-consumer will end up footing the bill. In addition, some opponents say major energy companies may move some of their operations out of the U.S. to cut costs. The bill also includes renewable power sources incentives for solar and wind power projects.

1:15 p.m. UPDATE:
The Climate Bill just passed narrowly on a floor vote; 217-205; 30 Democrats defected