Boucher wants this change because it will allow the utilities to keep operating in a 'business as usual' fashion for a very long time. By giving the credits to the utilities instead of auctioning them off they would be, in effect, removing most of the cost of burning carbon from the balance sheet for the utilities. Not to mention the massive loss of tax revenue.
Democratic Group Wants Utilities to Get Pollution Credits Free
By Daniel Whitten
April 24 (Bloomberg) -- A group of Democrats on the House Energy and Commerce Committee want to give utilities free permits for all their existing carbon emissions, according to people familiar with a plan sent to the committee’s chairman.
Representative Rick Boucher of Virginia sent the four-page list of recommendations to Henry Waxman, the committee’s chairman and the author of draft climate-change legislation that some of his fellow Democrats are seeking to temper, said the people, who declined to be identified before the plan is made public. Courtney Lamie, Boucher’s spokeswoman, didn’t respond to e-mail and phone messages.
Waxman’s measure would establish a cap-and-trade system of pollution credits designed to cut carbon dioxide 20 percent from 2005 levels by 2020. He needs to win the support of Boucher and the other Democrats pushing for changes in his plan because no Republicans are likely to vote for it, Representative Gene Green, a Texas Democrat, said yesterday. ...
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