http://switchboard.nrdc.org/blogs/astevenson/5_reasons_why_cap_and_trade_is.html

Carbon is a different animal, but this policy approach has had some successes in the past notably phasing out lead gasoline and reducing acid rain levels in the east.

While I am happy for more funding for bike/ped/transit, its similar to the car maker who refuses to fix a known defect,knowing statistically,its cheaper to pay off a few lawsuits than do a recall. Polluters will figure out the tipping point, and if its cheaper to continue polluting,hoping not to get caught, and if we do, we pay a relatively small fine.

I am sure Rep Blumenauers goals are noble,however I see this as a total loser.

+ The Case Against Carbon Trading / Transnational Institute:

–”…Citigroup’s Peter Atherton confessed that the European Union’s Emission Trading Scheme had ‘done nothing to curb emissions.’ He admitted,‘Prices up, emissions up, profits up …’ Who wins and loses? Coal and nuclear-based generators–biggest winners. Hedge funds and energy traders–even bigger winners. Losers … Consumers!”

In other words, Power Companies simply pass on the tax to consumers—without ever reducing their emissions!!!

+ New climate change legislation overlooks a major GHG source: industrial ag / Grist Magazine:

–”The bill fails to address greenhouse gas emission reductions from agriculture, factory farms, and animal manure whatsoever–and even goes the extra mile to specifically exempt the entire sector from any type of regulation.”

“Enteric fermentation is literally the largest source of methane emissions in the entire country.”

+ EPA’s Landfill Methane Outreach Program / EPA:

–”Municipal solid waste landfills are the second largest source of human-related methane emissions in the United States.”

“At the same time, methane emissions from landfills represent a lost opportunity to capture and use a significant energy source.”

Also read:

+ Beware emissions trading, airlines stand to make billions / Mother Jones,

+ The Carbon Folly / BusinessWeek,

Rather than cap-and-trade, the Govt. should set caps on GreenHouse Gas emission, then provide 0-interest loans for companies to Go Green (when such cannot afford to).

Also Read:

+ Loophole may mean bigger, not smaller, cars / MSNBC:

--"New rules may actually encourage automakers to build behemoths."

"Too bad the rules will discourage automakers from manufacturing the kind of small cars that the Obamaites favor and, in some cases, encourage carmakers to do exactly the opposite. That's right: make some models bigger."

"... the legislation, while forcing a significant boost in fuel economy, has loopholes big enough to drive a truck through."

"But say a big SUV misses its target by one mile per gallon. A carmaker could just make the vehicle a bit larger, allowing it to hit an easier fuel economy target."

"'The system doesn't do anything to encourage smaller vehicles,' ... And even if gasoline prices rise again and prompt consumers to look for smaller cars, he says, the new rules give automakers less incentive to sell more of them.

+ From Bagels to Coal Fires: An Unorthodox Economist Keeps Pushing for Change / NY Times, 2007:

–”… the abundance of underground coal fires in abandoned mines and other places that not only waste coal but contribute mightily to worldwide carbon dioxide emissions.”

”… underground fires in China alone contribute as much CO2 to the atmosphere each year as all the cars and light trucks in the U.S.”

Meanwhile, the Climate Change Bill grants BILLIONS in subsidies to Clean Coal.

Here Read:

+ The Illusion of Clean Coal / The Economist:

+ Trouble in store--Carbon capture and storage / The Economist:

+ The Dirty Truth About Clean Coal / BusinessWeek,

+ King Coal's Latest Con--Clean Coal is Not Clean / CommonDreams