Cut Carbon And Stay Competitive: $10 Billion?

As Congress debates how to regulate carbon emissions, business is up in arms over costs they say will leave them handicapped in the face of growing global competition. But an estimate out today says the U.S. government will give away just $10 billion per year in carbon allowances to keep many domestic industries competitive under a federal cap and trade climate scheme--petty cash in the current bailout era. Article Controls EMAIL PRINT REPRINT NEWSLETTER COMMENTS SHARE YAHOO! BUZZ Point Carbon, an energy industry consultancy, analyzed a key provision in climate legislation now under debate in the House of Representatives subcommittee on Energy and Environment. Called the Employ Act, it would provide chemical, metals and cement producers--energy intensive industries exposed to global competition--with free allowances covering 85% of their emissions under the cap and trade scheme proposed in the broad American Clean Energy and Security Act.

Read Full Article

Bookmark or Share this article

Login to comment.

How To Do Cap-And-Trade also categorized in Carbon Tax
At U.n., A Warm-up To Copenhagen Climate Talks also written by Andy Stone
Glory Days May Be Gone For Green Energy also written by Andy Stone
The Carbon Counters also written by Andy Stone
World's largest economies start push for agreement on climate also categorized in Carbon Tax
Don't Waste Your Time Hoping For A Carbon Tax also categorized in Carbon Tax
Q&A: Randy Zwirn, CEO of Siemens Energy also written by Andy Stone
China: Developed Countries Must Cut Emissions by 40% also categorized in Carbon Tax
Stimulus Money May Finally Flow To Green Energy also written by Andy Stone
Wind power is great politics but lousy policy also categorized in Carbon Tax