This report responds to a request from Senator James Inhofe, received on January 28, 2003, and Senators John McCain and Joseph Lieberman, received on April 2, 2003, to analyze the impact of S.139. S.139 would establish regulations to limit greenhouse gas emissions primarily through an emission allowance program and related emissions reporting requirements. The emissions allowance program would apply to most greenhouse gas emissions sources, the exceptions being the emissions from the residential and agriculture sectors, as well as emissions from organizational entities whose annual emissions are less than a certain threshold.

Contents	(complete Report)
Highlights
Introduction
Highlights of S.139
Summary of the S.139 Analysis and Results
Summary
Summary of the Climate Stewardship Act of 2003
Approach and Scenarios
Greenhouse Gas Allowance Costs
Energy Market Impacts
Sectoral Impacts
Macroeconomic Impacts
Sensitivity Analyses
Other Issues Addressed in the Report
Additional Context for the Report
Summary Tables
Preface
Contacts
Appendix A. Request Letters and Other Correspondence