6 Mar 2009, 7:25pm
Latest Climate News
by admin

Realization Sets In: Cap and Trade Not About Climate

The Climate Change Lobby Has Regrets
Cap and trade is going to cost them.

By KIMBERLEY A. STRASSEL, Wall Street Journal, March 6, 2009 [here]

Jim Rogers is not happy with the Obama administration. Ever since the White House unveiled its costly climate program, the CEO of Duke Energy has been arguing the proposals amount to nothing more than a tax. Indeed.

Mr. Rogers belongs to the U.S. Climate Action Partnership, about 30 companies that decided they were going to dance with the U.S. government to the tune of global warming legislation. The group demanded a “cap-and-trade” system, figuring they’d craft the rules so as to obtain regulatory certainty, with little upfront cost. At the time, Mr. Rogers explained: “If you don’t have a seat at the table, you’ll wind up on the menu.”

Duke sat, yet it and its compatriots are still shaping up to be Washington’s breakfast, lunch and dinner. The Obama plan will cost plenty, upfront, which will be borne by Mr. Rogers’s customers. The Duke CEO tells me that he still sees opportunity to change the proposal: “This is not my first rodeo, in terms of working with the legislative process.” There nonetheless may be a lesson here for companies that invite the U.S. government to saddle them with huge, expensive regulations.

“People are learning,” says William Kovacs, vice president of environment, technology and regulatory affairs at the U.S. Chamber of Commerce (which has been cautious about embracing a climate plan). “The Obama budget did more to help us consolidate and coalesce the business community than anything we could have done. It’s opened eyes to the fact that this is about a social welfare transfer system, not about climate.” … [more]

*name

*e-mail

web site

leave a comment


 
  • For the benefit of the interested general public, W.I.S.E. herein presents news clippings from other media outlets. Please be advised: a posting here does not necessarily constitute or imply W.I.S.E. agreement with or endorsement of any of the content or sources.
  • Colloquia

  • Commentary and News

  • Contact

  • Categories

  • Archives

  • Recent News Clippings

  • Recent Comments

  • Meta