PA Democrat Mike Doyle is telling reporters that emission credits will be basically be given away for the first 10 to 15 years under the cap and trade program currently being debated by the House of Representatives.
This undoubtedly will shock Barack Obama who plans on bringing in $650 billion between 2012 and 2019 from carbon emissions, according to his budget plans. It will also stun environmentalists. If the permits are free, then where is the incentive for corporations to pollute less?
This is just one guy speaking–coming from a state that will be hit hard by carbon pricing–but it’s a bad sign for the prospects of the bill getting passed any time soon.
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