Cut Carbon And Stay Competitive: $10 Billion?

Forbes.com (May 6 2009) Cap and Trade , Carbon Tax , Emissions

1. 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)

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