Here's the key sentence:
"Non-compliant parties would be able to buy financial rights to exceed their share of the carbon dioxide limits."
The key to reducing pollution is the move to hydrogen fuel cells for vehicles: the worst polluters, whether or not they cause "global warming". What the Senator is proposing is a Kyoto scam, asystem of trading credits and laundering money who knows where. Closing a facility anyway, make money selling "credits." The emissions and savings are hard to grade and ripe for cheating, which is what Kyoto was designed for. I recall Maurice Strong, designer of Kyoto, turned around and bought coal plants in China to sell to Canadian polluters. Will the Chinese plants actually reduce their emissions in turn? Ha!
Global warming or not, a way to reduce pollution is to invest in hydrogen and alternatives. Or just tax oil more than methane to encourage more methane substitition. The Senator's plan, just like Kyoto, is a scam hiding under the cover of environmentalism.
Henceforth I will always refer to Kyoto as the "ship-your-factory-to-China" treaty.
I am going to start investing in China funds. If we keep going down this road I'll be rich. I won't have a job, but I'll be rich, so who cares?