U.S. House of Representatives Passes Climate Change Bill

The U.S. House of Representatives passed the American Clean Energy and Security Act on Friday by a vote of 219-212. The bill now moves to the Senate.

The bill calls for greenhouse gas emissions to be reduced by 17% from 2005 levels by 2020. Key to meeting this goal is a greenhouse gas cap-and-trade program that will divide about 85% of its carbon permits between utilities, heavy industry and refiners, among others.