Cap And Trade Is Alive!
The always-useful Politico nails the Democrat plan for cap and trade legislation though Harry Reid won't use that term. Look for the Bill to have four sections: (1) oil spill response; (2) a clean-energy and job-creation title based on work done in the Senate Energy and Natural Resources Committee; (3) a tax package from the Senate Finance Committee; and (4) a section that deals with greenhouse gas emissions from the electric utility industry. Sections 1 and 2 seem to have bi-partisan support in concept and should pass (though more spending is somewhat problematic politically, given deficit concerns). Sections 3 and 4 may be jettisoned at the end of the day to assure passage of 1 and 2. Still, the Bill is being written and deals are being cut now.
We will post the Bill and analyze winners and losers as soon as the text is out.
