Democrats May Abandon Cap-And-Trade

IBD's Capital Hill ^ | 7/10/2010 | Sean Higgins

[Slyscribe]

The Senate is due to outline a new energy bill next week when it returns from its July 4th recess. Cap-and-trade likely will be a minor part — if it is in there at all.

Instead the bill will focus on cleaning up after the Gulf Oil spill and promoting green energy. It may include cap-and-trade for utilities, but even that is doubtful. The transportation and manufacturing sectors seem to be off the hook.

Senate Majority Leader Harry Reid, D-Nev., and White House officials are focused on cobbling something together that might pass before time runs out.

[BOBTHENAILER]

As the lobbyist explains, without the profits from a cap-and-trade to pay for the green energy programs, the bill will rely on “more savings from the oil sector.” These include scrapping various tax breaks and subsidies, upping other industry fees and giving the government a bigger cut of production royalties. This is all viewed as doable in the wake of the BPBP spill.

Get ready for SKYROCKETING FUEL, ULTILITY, HEATING AND COOLING RATES, and the commensurate increase in ALL goods transported by same.

[Ernest_at_the_Beach]

ROFL!

[SteamShovel]

Pelosi looks like a spoiled brat who thinks she’s something special...