Word: clinton
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...coal industry would prefer not to go out of business, and it is trying to delay big emissions cuts for a decade or two, until it perfects the technology to capture and store the CO2 its power plants emit. Lieberman and Warner won't delay those cuts (Clinton, Obama and McCain don't want to either), but they want coal to survive, so their bill gives the industry $235 billion for R&D over the next 20 years. Even so, politicians who represent what's left of America's coal-fired industrial heartland aren't rushing to support the bill...
What's more, trading pollution allowances could raise hundreds of billions of dollars. Clinton and Obama want all the allowances auctioned to the highest bidder, a position McCain would not accept. The fossil-fuel industries want them given away. Lieberman-Warner uses a mix of giveaway and auction, a seemingly fair approach but one that has split enviros--some of whom see the bill as weak. Industry is ambivalent too. The National Association of Manufacturers is dug in against the bill. A large and growing number of corporations know that a cap is inevitable, though few have come...
...green jobs that cap and trade could help create would be a big employment sector--including production of wind turbines, pollution scrubbers and more. Obama and Clinton talk about spending $150 billion over 10 years to create millions of those jobs, but it's the sale of pollution allowances that would raise that money. No cap and trade, no jobs. That seems simple--but not to the campaigns...
...complicated to talk about on the stump," says a Clinton adviser. But the way Clinton and Obama do talk about it makes green jobs sound too easy, like a federal employment program for Keebler elves. "These are real jobs, but it comes across as happy talk," says United Steelworkers president Leo Girard...
When Lieberman-Warner reaches the Senate floor, probably in June, the talk has to get serious. Clinton voted for the bill in committee, but may abandon the bill if it moves to the right in search of votes. (The bill's champion, Senate Environment Committee chairman Barbara Boxer, has vowed not to let that happen.) McCain hasn't embraced the bill, even though he has a real record on the issue. He and Lieberman sponsored cap-and-trade bills in 2003, 2005 and early 2007, when most Senators were missing in action. During the primary, he downplayed that history...