Politico reports:
The climate change legislation being debated now in the Senate is the Super Bowl for lobbyists, roping in everyone from Alaskan Inupiaqs to venture capitalists.
“We’re only this far because of the array of citizen groups, business, labor, environmentalists, religious communities, hunters, anglers, you could go on,” Sen. Joseph I. Lieberman (I-Conn.) told reporters on Capitol Hill. “It’s this mighty force rising out from the American public.” …
Depending on how Congress eventually deals with global warming, the outcome will inevitably hurt some companies while creating significant new markets for others.
Sponsored by Lieberman and Sen. John Warner (R-Va.), the measure would cut greenhouse gas emissions by nearly 70 percent by 2050. It mandates a trading system, known as cap and trade, that would allow companies to purchase carbon credits through an auction process. The bill also provides billions of dollars in subsidies for conservation and environmentally clean technologies.
Business is pushing for various carve-outs. Real estate groups, for example, are backing an amendment allowing a portion of the carbon credits to be given to building owners who improve the efficiency of their properties.
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Wednesday, June 4, 2008
Climate Bill A "Super Bowl" For Lobbyists
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