Senator Graham calls cap-and-trade plan dead

Reuters ^ | Tue Mar 2, 2010 7:23pm EST | Richard Cowan and Thomas Ferraro

[Ernest_at_the_Beach]

WASHINGTON (Reuters) - The idea of imposing a broad cap-and-trade system to cut America's greenhouse gas emissions is dead and will be replaced with a new approach, an influential Republican senator said on Tuesday.

Lindsey Graham, one of three senators working against daunting odds to produce a compromise climate bill, has recently turned against imposing the kind of cap-and-trade system used in Europe, which involves companies buying and selling pollution permits.

Graham did not specify whether another mechanism or some sort of cap-and-trade would be used more narrowly, such as to control emissions in the power utility sector. "The cap-and-trade bills in the House and Senate are dead. The concept of cap-and-trade is going to be replaced," he said.

Cap-and-trade would involve cutting U.S. greenhouse gas emissions between 2012 and 2050 by establishing a regulated financial market where a wide range of companies would buy and trade a shrinking number of permits to pollute, which critics say would raise costs for consumers and companies.

International climate change negotiations hinge in part on the ability of the United States, the largest carbon polluter in the developed world, enacting a pollution-control law.

Meanwhile, some lawmakers were pressing ahead with plans to block the U.S. Environmental Protection Agency from regulating carbon emissions if Congress fails to pass a bill.

Senator John Rockefeller told reporters he is preparing legislation giving the EPA a two-year timeout on such regulations on stationary sources of pollution.

A permanent prohibition is being offered by Senate Republicans. In the House of Representatives, Republican leader John Boehner and 85 of his colleagues introduced their version.

[skeeter]

Can’t get anything past Sen Graham. He is one sharp cookie.

[kingattax]

what a little squirrel. the RATS must have some real interesting pics or a video starring lindsey.

[Ernest_at_the_Beach]

Maybe some sanity is coming to Washington....

[bossmechanic]

Yup - sharp like a wet bag of RATS.

[steelyourfaith]

 

Beam me to Planet Gore !

[scooby321]

Graham sneak back in the Senate because he was McCain's Co-Chair and people didn't want Obama. That won't happen again.

[truthandlife]

Graham are you finally listening!!!!!

WHAT TOOK YOU SO LONG!!!!!!!!!

[MrB]

Hey, Lindsay,

tell me why we have to reduce “greenhouse gas” emissions.

[Ernest_at_the_Beach]

See these threads:

The Climate Industry Wall of Money ( Global Warming Hoax has Money behind it)

Investors Representing $13 Trillion Call on U.S. and Other Countries to Move Quickly - on AGW Laws)

[Vaquero]

I’m surprized twinkle twit(sp) Lindsay Graham is taking it so well.....those poor polar bears and all....

[Vaquero]

I’m surprized twinkle twit(sp) Lindsay Graham is taking it so well.....those poor polar bears and all....

[Buckeye McFrog]

until Lindsey’s aides manage to come up with a new name for it

[truthguy]

Lindsey Graham- SCUM OF THE EARTH!

There, got that off my chest!

[moose2004]

“...one of three senators working against daunting odds to produce a compromise climate bill, has recently turned against imposing the kind of cap-and-trade system used in Europe, which involves companies buying and selling pollution permits.”

GE and many on Wall Street will not be happy about this.

[Dewey Revoltnow]

Yea right, ya little fa ggot.

[Parley Baer]

“The concept of cap-and-trade is going to be replaced,”

Replaced with what or just re-named? Kill the whole concept once and for all.

[Rummyfan]

GOOD!

[Marine_Uncle]

What I find interesting is Rockefeller has come over to the "light side" on this one. He fully understands the horrible consequences this would pose to his state being heavily invested in coal. Good for him in this particular case.
And obviously I as well as many at this site now see Senator Inholfe and his companion now making some real headway in bring the whole fictitious global warming issue to a head.
Hopefully the Senate as well as a slowly scared HR will see the need to go up against anything the Holdren and Jackson's might have in mind.