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API’s Gerard: Allowances uneven in cap-and-trade bill
05/25/2009
A carbon cap-and-trade bill before the US House needs to be reworked so allowances are distributed more evenly across the entire economy, American Petroleum Institute Pres. Jack N. Gerard said on May 18.“We keep hearing about this legislation being a market-based proposal to begin the transition to a less carbon-based society. But it’s not market-based if you give allowances to some segments and not to others,” Gerard told reporters in a teleconference hours before the House Energy and Commerce Committee began marking up HR 2454, the American Clean Energy and Security Act.Sponsors Henry A. Waxman (D-Calif.), the committee’s chairman, and Edward J. Markey (D-Mass.),...
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