Senators to Propose Abandoning Cap-and-Trade
by Juliet Eilperin and Steven Mufson (Washington Post) Three key senators are engaged in a radical behind-the-scenes overhaul of climate legislation, preparing to jettison the broad “cap-and-trade” approach that has defined the legislative debate for close to a decade.
The sharp change of direction demonstrates the extent to which the cap-and-trade strategy — allowing facilities to buy and sell pollution credits in order to meet a national limit on greenhouse gas emissions — has become political poison. In a private meeting with several environmental leaders on Wednesday, according to participants, Sen. Lindsey O. Graham (R-S.C.), declared, “Cap-and-trade is dead.”
Graham and Sens. John F. Kerry (D-Mass.) and Joseph I. Lieberman (I-Conn.) have worked for months to develop an alternative to cap-and-trade… (M)otor fuel may be subject to a carbon tax whose proceeds could help electrify the U.S. transportation sector… READ MORE and MORE (Reuters)
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- Greater Distinction Needed for Biofuels as Fuel Component under Cap and Trade
- Changing Climate: Carbon Tax Gaining Momentum over Cap-and-Trade?
