U.S. Sens. Barbara Boxer and John Kerry introduced their version of controversial cap-and-trade legislation Wednesday, Sept. 30.
Cap and trade would establish limits for greenhouse gas emissions in several business sectors. A credit system would allow businesses that operate above limits to purchase credits and would allow businesses with leftover credits to sell on the open market.
Boxer and Kerry’s proposed cap-and-trade senate bill has goals of lowering greenhouse gas emissions to 80 percent of 2005 levels by the year 2020, 58 percent of 2005 levels by 2030, and 17 percent of 2005 levels by 2050.
Boxer, D-CA, and Kerry, D-MA, have previously stated they want to begin hearings on the bill in early October.
At an unveiling ceremony on the Capitol lawn, Boxer touted investment that could be driven by cap and trade.
“The global clean energy market is estimated to reach two-and-a-half times the size of the global personal computer market by the year 2020,” Boxer said. “We know from venture capitalists that billions of dollars from the private sector will flow into this market. Others will move ahead if we don’t seize this opportunity.”
The U.S. House of Representatives narrowly approved its version of cap and trade (HR2454) in July.
OOIDA opposed the House version, saying the measure would reportedly raise diesel costs by 88 cents per gallon, and that proceeds wouldn’t benefit the nation’s Highway Trust Fund.
Some cost estimates for the House cap-and-trade bill showed the legislation could cost American families more than $1,000 annually from utility and other price increases.
– By Charlie Morasch, staff writer
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They couldn't pick a better time to announce their plan. With unemployment around 10% what better way to ship more jobs overseas. China and India will support this legislation. Who is not in favor of more regulation? Who would want a job in a dirty old factory when they can get a 'green job' that will no doubt pay better anyhow?

It is all smoking mirrors. None of it will do much good without getting other developing countries involved and committed, such as India and China. This is just another way to add an additional tax. And who can argue with a clean air tax? :roll:

Agreed.

Pelosi needs to pay for that JET FUEL she uses. I read the Pelosi bill, it's REDICULOUS.

Everyone thinks all the Democrat/Osama GIVE-AWAYS would trickle the expense down to our GRANDCHILDREN - well folks, they're going after the $$'s NOW. Not only will this increase costs to EVERYONE by just fuel costs ALONE - but in increased costs of PRODUCTS due to increased manufacturing and transport costs. This has NOTHING TO DO with Highway Funding OR Cleaner Air Funding - and EVERYTHING TO DO with making up for the shortfalls caused by all the BAILOUTS.

Anyone notice, when fuel skyrocketed last summer, that EVERYTHING on supermarket shelves jumped UP in price by 15-25%? Funny thing is (in typical american business/consumer logic) when fuel went DOWN, they did NOT LOWER PRICES. Get us used to (and accepting) the price of something - and we stop complaining. The fuel prices would have started an ARMED INSURRECTION if they hadn't gotten them back in line. Funny how they dropped RADICALLY at the peak of ELECTION SEASON.

I've already written my criminals in D.C. about this - like everything else I've written them about, I expect some "canned response" in reply 6-8 months from now.

I'm COMPLETELY DISGUSTED by this legislation - and you can BET Osama will see the $$ signs and sign it into law if it passes both houses.

Rick