March 26 (Bloomberg) -- Senators Lindsey Graham and Joseph Lieberman outlined U.S. climate-change legislation that would have power companies buy and sell pollution rights in a carbon market and force oil companies to pay fixed fees for emissions.
The new legislation,if passed would mean that oil companies would have to pay a fixed fee for their personal emissions linked to the price that power companies pay for carbon dioxide allowances. Trading restrictions would include a maximum and minimum price for carbon dioxide allowances, or a “hard price collar,” Graham said. They're not sure how to calculate the fee though as of yet, which of course presents a big problem.
Another sucky part...
“Nobody’s signed on, but I think we’ve got them engaged,” Lieberman says, referring to the meeting with industry groups that included the U.S. Chamber of Commerce and the Edison Electric Institute. - super.
*Source
The new legislation,if passed would mean that oil companies would have to pay a fixed fee for their personal emissions linked to the price that power companies pay for carbon dioxide allowances. Trading restrictions would include a maximum and minimum price for carbon dioxide allowances, or a “hard price collar,” Graham said. They're not sure how to calculate the fee though as of yet, which of course presents a big problem.
Another sucky part...
“Nobody’s signed on, but I think we’ve got them engaged,” Lieberman says, referring to the meeting with industry groups that included the U.S. Chamber of Commerce and the Edison Electric Institute. - super.
*Source
