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American Clean Energy and Security Act of 2009
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A quick definition of American Clean Energy and Security Act of 2009:
The American Clean Energy and Security Act of 2009 (ACES) was a law that aimed to make the United States more energy independent and reduce pollution. It would have made companies limit how much pollution they create and encouraged the development of clean energy sources like wind and solar power. The law passed in the House of Representatives but did not become a law because it was not voted on in the Senate.
A more thorough explanation:
The American Clean Energy and Security Act of 2009 (ACES), also known as the Waxman-Markey bill, was a proposed law in the United States that aimed to promote a clean energy economy, reduce greenhouse gas emissions, and create energy independence.
The ACES would have created a cap-and-trade system on all greenhouse gas emissions by specific sectors of the economy. This means that companies would have a limit on how much greenhouse gas they could emit, and if they exceeded that limit, they would have to buy credits from other companies that had not used up their limit.
The ACES also intended to encourage the development and transportation of clean energy by establishing regulations, studies, and grants for projects such as carbon capture or energy efficiency standards. These projects were expected to reduce dependence on foreign sources of energy and produce millions of clean energy jobs.
For example, the ACES would have provided funding for research and development of new technologies that could capture carbon dioxide emissions from power plants and store them underground. This would have helped to reduce greenhouse gas emissions and promote the use of clean energy.
The ACES passed the House of Representatives in 2009 but did not receive a vote in the Senate.