Eight Senate Democrats are opposing speedy action on President Barack Obama's bill to combat global warming, complicating prospects for the legislation and creating problems for their party's leaders. The eight Democrats disapprove of using the annual budget debate to pass Obama's "cap and trade" bill to fight greenhouse gas emissions, a measure that divides lawmakers, environmentalists and businesses. The lawmakers' opposition makes it more difficult for Democratic leaders to move the bill without a threat of a Republican filibuster. The budget debate is the only way to circumvent Senate rules that allow a unified GOP to stop a bill through filibusters. "Enactment of a cap-and-trade regime is likely to influence nearly every feature of the U.S. economy," wrote the Democratic senators, mostly moderates. They were joined by 25 Republicans. "Legislation so far-reaching should be fully vetted and given appropriate time for debate."...AP
Tuesday, March 17, 2009
8 Dems oppose quick debate on global warming bill
Eight Senate Democrats are opposing speedy action on President Barack Obama's bill to combat global warming, complicating prospects for the legislation and creating problems for their party's leaders. The eight Democrats disapprove of using the annual budget debate to pass Obama's "cap and trade" bill to fight greenhouse gas emissions, a measure that divides lawmakers, environmentalists and businesses. The lawmakers' opposition makes it more difficult for Democratic leaders to move the bill without a threat of a Republican filibuster. The budget debate is the only way to circumvent Senate rules that allow a unified GOP to stop a bill through filibusters. "Enactment of a cap-and-trade regime is likely to influence nearly every feature of the U.S. economy," wrote the Democratic senators, mostly moderates. They were joined by 25 Republicans. "Legislation so far-reaching should be fully vetted and given appropriate time for debate."...AP
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Combating climate change may not be a question of who will carry the burden but could instead be a rush for the benefits, according to new economic modeling presented at “Climate Change: Global Risks, Challenges & Decisions” hosted by the University of Copenhagen.
Contrary to current cost models for lowering greenhouse gases emissions and fighting climate change, a group of researchers from the University of Cambridge conclude that even very stringent reductions of can create a macroeconomic benefit, if governments go about it the right way.
“Where many current calculations get it wrong is in the assumption that more stringent measures will necessarily raise the overall cost, especially when there is substantial unemployment and underuse of capacity as there is today”, explains Terry Barker, Director of Cambridge Centre for Climate Change Mitigation Research (4CMR), Department of Land Economy, University of Cambridge and a member of the Scientific Steering Committee of the Congress.
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