WASHINGTON (Reuters) – The White House budget update released on Tuesday still reflects a controversial Obama administration plan to combat global warming by auctioning all permits to emit greenhouse gases even though Congress has said it will give away a substantial portion to industry.
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Don Pratt
on Aug 27th, 2009
@ 7:05 am:
Mr Obama is right. To give permits to companies based on past emission distorts the whole concept. A company that reduces production due to falling demand will have spare permits to sell. General Motors would have millions to spare just as German manufacturers have. NO free permits. If you emit you pay. If you do not emit you do not pay. Why not just a tax on carbon emissions? Too simple?