The three senators working to craft an energy and climate bill met with representatives from industry groups on Wednesday evening to share details of their forthcoming legislation. From the leaks that have come out of the meeting, it sounds like their bill will be very industry-friendly.
Greenwire reports that industry sources said that the draft language they saw from Sens. John Kerry (D-Mass.), Lindsey Graham (R-SC), and Joe Lieberman (I-Conn.) would call for a goal of reducing emissions 17 percent below 2005 levels and 80 percent by 2050. Utility regulations would begin in 2012, and other major sources would be phased in beginning in 2016. There would also be an upper and lower limit on the price of carbon permits, often referred to as a price collar, of $10 to $30 per ton.
Industry representatives also said the bill would take away the EPA's ability to regulate greenhouse gases under the Clean Air Act, and halt emissions programs already underway in states – two measures that would significantly handicap future efforts to limit emissions. ...
Comment: As the frog enjoys his swim in the tepid water of the cooking pot, old Dan slowly turns up the heat on the stove.