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  • Climate law seen raising gasoline 13 cents a gallon

    11/03/2009 5:12:41 AM PST · by Oldeconomybuyer · 12 replies · 394+ views
    Reuters ^ | November 3, 2009 | By Timothy Gardner
    NEW YORK (Reuters) - U.S. climate legislation would hike gasoline prices about 13 cents a gallon as oil companies push the price of carbon permits on to consumers, according to report by Point Carbon, an independent consulting company that tracks global carbon and energy markets. Point Carbon analyst Emilie Mazzacurati said oil companies would face substantial carbon permit costs under the legislation because they would get few of the permits the government would distribute to companies during the first years of a cap-and-trade program. But that should not hurt integrated oil companies very much, she said, because they could largely...