Dem Leaders Offer Compromise on Cap-and-Trade

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Friday, May 08, 2009 at 11:36 am

Facing resistance from moderate Democrats, House Energy and Commerce Committee Chairman Henry Waxman (D-Calif.) is ready to compromise on some key provisions of the cap-and-trade legislation he co-sponsored with Energy and Environment Subcommittee Chairman Ed Markey (D-Mass.).

One area of contention is the distribution of carbon allowances, which polluting companies will need to obtain for each ton of carbon dioxide they plan to emit. The Obama administration has called for — and continues to push for — 100 percent of permits to be auctioned off, while some industry leaders and moderate Democrats support giving out some or all allowances for free in order to reduce the economic burden on polluting companies and consumers.

The original Waxman-Markey draft did not specify how the allowances would be distributed, but now Waxman has signaled that he is open to the free allocation of 40 percent of permits to local electricity distribution companies and 15 percent to the industries that would be most vulnerable to international competition under the agreement, according to E&E Daily (via Climate Progress). The free permits would slowly be phased out in favor of a 100% auction within 10 to 15 years.

Another major compromise involves the short-term emissions reduction targets. The Obama administration called for a 14 percent reduction by 2020, while the Waxman-Markey bill stipulated a 20 percent cut. Now Bloomberg reports that Waxman has agreed to a 17 percent target, while E&E Daily says Waxman will settle for 14 percent. The long-term target — an 83 percent reduction by 2050 — will probably remain in place.

While environmentalists will no doubt be disappointed by Waxman’s capitulation — particularly since even the ambitious draft bill was unlikely to reduce emissions as far as some scientists have urged — it was inevitable that some compromise was in order if the legislation was to have any chance of passing. It is still unlikely to win much or any Republican votes, but Waxman may have done enough to address the concerns of moderate Democrats on his committee.

Waxman still hopes to vote the bill out of committee by Memorial Day.

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Comments

6 Comments

AntonioSosa
Comment posted May 8, 2009 @ 12:19 pm

The “compromise” is another way to manipulate us into letting them steal from our children and grandchildren so Obama may achieve his goal of transforming the U.S. into another GULAG like Cuba.

We don't need ANY more taxes! Taxes are killing our companies and destroying our future! I’m so relieved we may be saved from Cap and Trade, which, as famed climatologist Dr. S. Fred Singer said, “would be the equivalent of an atomic bomb directed at the U.S. economy, all without any scientific justification.”

We pray that honest officials — Democrats and Republicans — are able to save us from Obama's destructive schemes, such as cap and trade or the “compromise” on cap and trade, all of it based on the man-made global warming hoax.

More and more scientists and thinking people all over the world are realizing that man-made global warming is a hoax that threatens our future and the future of our children. More than 700 international scientists dissent over man-made global warming claims. They are now more than 13 times the number of UN scientists (52) who authored the media-hyped IPCC 2007 Summary for Policymakers. http://www.climatechangefraud.com/content/view/…

Additionally, more than 30,000 American scientists have signed onto a petition that states, “There is no convincing scientific evidence that human release of carbon dioxide, methane, or other greenhouse gases is causing or will, in the foreseeable future, cause catastrophic heating of the Earth's atmosphere and disruption of the Earth's climate.” http://www.petitionproject.org

“Progressive” (communist) politicians like Obama seem determined to force us to swallow the man-made global warming scam. We need to defend ourselves from the United Nations and these politicians, who threaten our future and the future of our children. Based on a lie, they have already wasted billions and plan to increase taxes and increase the cost of energy, which will limit development, destroy our economy and enslave us.


Ken
Comment posted May 22, 2009 @ 9:43 pm

Those damm Dumbocrats, trying to pull off a Madoff scheme, they should all be put in prison. I'm really getting tired of being lied to. In 2010 elections let these silver spoon son-of-o-bitches lose their positions.


Ken
Comment posted May 23, 2009 @ 4:43 am

Those damm Dumbocrats, trying to pull off a Madoff scheme, they should all be put in prison. I'm really getting tired of being lied to. In 2010 elections let these silver spoon son-of-o-bitches lose their positions.


The Hill’s Blog Briefing Room » Waxman moving towards cap/trade compromise
Pingback posted June 19, 2009 @ 6:45 pm

[...] moving towards cap/trade compromise @ 1:45 pm by Eric Zimmermann Via The Washington Independent comes news that Rep. Henry Waxman (D-Calif.), Chairman of the House Energy Commerce Committee and [...]


The Hill’s Blog Briefing Room » Waxman moving towards cap/trade compromise
Pingback posted June 19, 2009 @ 6:45 pm

[...] moving towards cap/trade compromise @ 1:45 pm by Eric Zimmermann Via The Washington Independent comes news that Rep. Henry Waxman (D-Calif.), Chairman of the House Energy Commerce Committee and [...]


The Hill’s Blog Briefing Room » MIDDAY ROUNDUP
Pingback posted June 19, 2009 @ 6:47 pm

[...] the 19th century – S. Benen, Political Animal Conyers chickens out of ACORN probe – Michelle Malkin Dem leaders offer cap-and-trade compromise – Aaron Weiner, TWI Facing foreclosure – Megan McArdle, The Atlantic Blurring the torture debate – [...]


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