If the cap and trade bill is shot down by Congress, it will hurt businesses more than it will hurt environmentalists.
The plain, inescapable, fact is that Barack Obama and his adminstration plan on forcing businesses to cut their CO2 emissions.
There’s two ways this can happen. The easy way, through cap and trade, or the hard way, which involves the EPA laying the smack down.
E&E Daily (sub.) : Rep. Peter DeFazio (D-Ore.) said a losing House vote does not bother him considering the Supreme Court has already granted U.S. EPA authority to regulate greenhouse gases.
“I had Henry Waxman and others ask me, ‘OK, so what if this fails?’ And I say, ‘If I was the president, Saturday morning, I’d hold a press conference or I’d use my radio address and say, climate change is a real problem. America must lead. My EPA has already begun promulgating rules. I’m now proposing that they adopt the schedule for reductions that was in this bill and do it in a regulatory matter,” DeFazio said.
“Their argument to me is ‘They’ll get sued.’ And I say, ‘We did the Clean Water Act somehow.’ We cleaned up our rivers without involving Wall Street and without saying, ‘Gee, I’m going to pollute the Wilamette River in Oregon because I’m cleaning up the Amazon in Brazil.’ We didn’t do any of that and it worked great.”
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