Saturday, April 24, 2010

Cap and Trade - #1622 - What is Cap and Trade? - Discover the

The stated purpose of the proposed energy policy known as Cap-and-Trade (C and T) is to reduce Americans' consumption of fossil fuels — coal, oil, and natural gas — and to speed up the nation's transition to alternate forms of energy, such as wind and solar power. The "cap" part of C and T would consist of a legislated limit to the quantity of carbon dioxide that American businesses would be permitted to put into the atmosphere from the burning of fossil fuels. Each covered utility, oil company, and manufacturing facility would be given allowances based on past emissions or some other formula. The government would then issue permits that it would sell or give (the details differ with each plan) to businesses which could then:......Thus, when the House of Representatives approved Cap-and-Trade legislation at the end of June 2009, a majority of legislators rejected proposed amendments that would have limited the program's economic damage by suspending C and T if gasoline rose to $5.00 per gallon or unemployment reached 15 percent.....So much Cap-and-Trade money had been slated to be given to Big Business, that a number of Obama allies acknowledged that C and T had the potential to become the largest corporate-welfare program in American history. If enacted, C and T will establish the principle that the government should decide how much energy Americans can consume.

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