March 06, 2009

bad idea . . . giving away carbon permits

Via Kevin Drum, bad news, and hilzoy from Sen. Jeff Bingaman:

"Sen. Jeff Bingaman, a New Mexico Democrat who chairs the energy panel, said earlier that any climate bill that passes the Senate is unlikely to adhere to the administration's plan that the government auction all the permits to emit greenhouse gases because such a plan would be too harsh on big industry.

Instead, Bingaman said any Congressionally developed system capping and trading emissions probably will include carbon allowances given to polluters like cement factories and coal-burning power plants, along with permits that are sold."

Tell me it ain't so . . . just say "no!" Read Kevin Drum (above).

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