There is a new Sheriff in Town!

The Waxman-Markey Bill, now dubbed the American Clean Energy and Security Act of 2009 is winding its way through the halls of power as we speak. The compromise announced in the last couple days allows for 35% of 4.7 Billion allowances will be given for free to local distribution companies that provide electrical service to protect rate payers; 15% will be given to “trade-intensive” industries such as steelmakers, glass, aluminum, and paper for free starting in 2014, phasing out by 2 percent per year. Auto makers initially would receive 3% of the allowances free. Members are also still working on a free allowances figure for petroleum refiners, believed to be between 1 percent and 5 percent.

That sounds soft to me!

Climate change experts seem to have found consensus around the fact that we are rapidly running out of time. I wonder if we can really afford to play loose and fast with the allocation of the tradable credits so that our dirtiest industries get their credits for free for a while. I think we should give credits for free to clean industries so they can sell them to the dirtier industries and use the profit to build and expand and create jobs. That would enable the shift to occur more quickly.

But what do I know, I just read about the stuff til my eyes bleed. It's not like I'm an expert or anything. If I was an expert, I'd obviously be working for a coal or oil company...

Here is EPA Administrator Lisa P. Jackson from the Daily Show last night.

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Lisa P. Jackson
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