It’s almost been a year since the climate bill got a thumbs up in the House of Representatives. Now, the suspense over the unveiling of the climate and energy bill in the Senate is somewhat over or so we think. The bill sponsored by senators Graham (R-SC), Kerry (D-Mass.) and Lieberman (I-Conn.) is likely to be unveiled in the upper house on the 26th of April, right after earth day.

What are the chances of a floor vote this spring or summer? Even if the bill is brought to the floor, will Senator Reid be able to cobble up the required 60 votes for the bill to pass through the Senate?

There is also some contention over the differences in provisions of the Waxman-Markey bill and the Kerry-Lieberman-Graham bill. The major differences include the carbon pricing system, which the Senate version of the bill spells out for various sectors of the economy as opposed to the House’s all-inclusive approach. The Senate bill is also expected to emphasize on offshore oil and gas drilling and expansion of nuclear power. So, will the Senate proposals prevail over those of the House?

Obama minced no words in saying that his first priority is the Wall Street regulatory reform. Does that the mean that the final negotiations over the bill might be put on hold till the midterm election in November? These are some questions that the publics might be curious to know. So, will there actually be a federal legislation to tackle climate change till Earth Day 2011?