Word: caps
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Dates: during 2000-2009
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...course, if the Obama Administration achieves its stated goal of passing carbon cap and trade legislation, EPA regulations might be superseded - and even deep greens generally prefer Congressional action to federal fiat. But with cap and trade looking like it may become a victim of the White House's need to prioritize amidst a sea of crises, the EPA's actions could provide a much-needed nudge to Congress. "This is a strong message," says O'Donnell. "Congress either has to face the reality that something has to be done, or the Obama Administration will just do it itself." What...
...business community, for example, groans under the weight of health-care costs, and so it has a vested interest in the Administration's efforts at health-care reform. The same cannot be said for Obama's plans to cap carbon emissions, which many have argued will amount to an expensive new tax that businesses and consumers can ill afford during such hard times. (See how the U.S. can win the war against global warming...
Under the Administration's proposed scheme, companies that produce carbon over the cap would buy credit from facilities that have modernized. The additional costs to businesses of the program, however, are more than likely to be passed on to the consumer, amounting to what some argue would effectively be a new tax on ordinary Americans. "That is a massive new tax. It's a tax on energy, and it will flow directly through to the consumer in the form of a national sales tax on their electric bill," Senator Judd Gregg, a New Hampshire Republican, said in questioning White House...
...result, Republicans want to see all revenue brought in from the cap-and-trade system returned to consumers, potentially as tax rebates. Obama, by contrast, would keep 20% to invest in his green-jobs program. Republicans have also said they would not support a bill that does not include money to expand the nuclear industry - something opposed by many Democrats and environmentalists. There is also disagreement over the involvement of other countries in any potential market and how best to help developing nations build up clean technologies...
...plans on asking some tough questions. Germany's new Economy Minister is due to meet U.S. Treasury Secretary Timothy Geithner and bosses at embattled American carmaker General Motors. Opel, a Germany-based division of GM, is fast running out of cash and GM and Opel bosses recently went cap in hand to Berlin to ask for $4.25 billion in state aid. In return, GM say they will restructure Opel by cutting costs and loosening the company's ties with the parent company in Detroit. Opel would become an autonomous legal entity, half of which could end up in the hands...