The Week in Cap and Trade: The Waiting Game
All eyes continue to be on the House Committee on Energy and Commerce chaired by Rep. Henry Waxman. Waxman has promised to deliver legislation on energy and climate change with a cap-and-trade provision to the full House by Memorial Day, but so far has released no draft bill for debate.
Committee member Congressman Mike Doyle told Point Carbon (subscription required) last week that he expects to see a draft of the bill “in the next week or two.”
Meanwhile, the man who lost his chairmanship to Waxman, Rep. John Dingell called for the administration to craft its own legislation, instead of leaving that task to Congress, reports E & E News (subscription required). "If they don't,” Dingell predicted, ”the drafting or completing of the legislation will be very difficult."
Any legislation may have a hard time generating popular support. A new Gallop poll released last week showed weakening support among voters for environmental action. When asked whether they would sacrifice the environment for economic growth, a majority of Americans responded “yes” for the first time in 25 years.
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