Gerry Canavan

the smartest kid on earth

Senate Centrist Halfsies Moderate American Clean Energy & Security Act

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To summarize, Graham et al. seem set to explode the fragile consensus formed around ACES in favor of a piece of legislation that will cost more. They’ll lose the coal utilities but are unlikely to pick up Big Oil. The broad range of recipients of pollution allowances under ACES, who were set to receive a steady, predictable income over decades, now face a future patchwork of subsidies dependent on the whims of legislators—just the kind of meddling and favoritism carbon pricing was supposed to transcend. Via Kevin Drum.

Written by gerrycanavan

March 3, 2010 at 9:06 am

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