Bingaman Says that for a Cap and Trade Bill to Pass, Permits Need to Be Free for Coal Plants. By Tom Doggett and Ayesha Rascoe, Reuters, March 5, 2009. "U.S. Energy Secretary Steven Chu on Thursday pledged to work with Congress to pass legislation that would impose a cap-and-trade system to curb greenhouse gas emissions and fight global warming... Sen. Jeff Bingaman, a New Mexico Democrat who chairs the energy panel, said earlier that any climate bill that passes the Senate is unlikely to adhere to the administration's plan that the government auction all the permits to emit greenhouse gases because such a plan would be too harsh on big industry. Instead, Bingaman said any Congressionally developed system capping and trading emissions probably will include carbon allowances given to polluters like cement factories and coal-burning power plants, along with permits that are sold... 'I think it's unlikely we will pass a cap-and-trade bill with 100 percent auction,' Bingaman told reporters."
2009-03-06
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