Kerry, Graham, Lieberman to unveil climate bill

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Source: The Washington Post

In their last and best shot at enacting a climate bill this year, Sens. John F. Kerry (D-Mass.), Lindsey O. Graham (R-S.C.) and Joseph I. Lieberman (I-Conn.) plan to unveil a draft Monday that will provide a streamlined system for capping greenhouse gas emissions from the utilities and transport sector but still aims to reduce the nation's carbon dioxide output by 17 percent in 10 years.

The measure offers numerous concessions to businesses, including allowing manufacturing and energy-intensive industries four years before they would be subject to the carbon cap; provisions for offshore oil drilling; $10 billion for the coal industry to capture and store its carbon emissions; and enough loan guarantees and incentives to provide for the construction of 12 nuclear power plants.

"Because of the broad-based industry support that I expect the bill will garner, both at the rollout as well as beyond, I think this is the best path forward," said Fred Krupp, who heads the Environmental Defense Fund.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/04/23/AR2010042304703.html?wprss=rss_politics