The bill is being debated in congress right now, it's mission is to reduce CO2 emissions through various means one in particular would cap the CO2 emissions allowed by law on industry & if they go over the mandated cap, they will have to buy credits from an industry that emits less than their mandated cap.
This looks like an open appeal for fraud on a grand level to me. How many straw industries will be organized on paper just to take advantage of the money to be made by allowing dirty industry to buy their "clean carbon footprint"? Who really benefits? Does this actually reduce greenhouse emissions or is it just re-distributing and itemizing CO2 industry gas so the fed. can manipulate some figures for taxation and media spin? Why do global warming proponents own interest in the carbon trading companies that will make a killing off this on the market if or when legislation passes? And, finally, why does John McCain support this bill?
http://gristmill.grist.org/story/2008/5/10/83157/2597
http://thehill.com/business--lobby/warner-lieberman-bill-could-raise-gas-prices-2008-05-19.html---------------------------------------
"When buying and selling are controlled by legislation, the first things to be bought and sold are legislators." - P.J. O'Rourke
-Pete
