The Cascade Policy Institute has "the rest of the story":
As it happens, Al Gore is a member of the board of Apple, and Apple’s Chief Operating Officer, Tim Cook, sits on the board of Nike. So it should be fairly obvious why Nike and Apple are supporting cap-and-trade. Nike’s and Apple’s manufacturing bases also lie mostly outside the United States and would be unaffected by a cap-and-trade program. Thus, both Nike and Apple can project a “green” image for their young, environmentally conscious consumers and gain a market advantage by supporting a program that could hinder their U.S.-based competitors. Other companies, like Exelon, are simply waiting to feed from the government-imposed cap-and-trade money trough. Exelon is the biggest nuclear power operator in the country, and Exelon’s CEO John Rowe is endorsing cap-and-trade in order to cash in on the numerous subsidies and market manipulations currently written into the Senate climate bill, which could boost Exelon’s profits by $1.1 billion (39 percent). Apparently, it’s easy being “green,” when “green” means government-guaranteed profiteering and rent-seeking...
1 comment:
It's obvious that Apple, Nike and Exelon stand to gain from cap and trade legislation. Unfortunately, few other business, or the American people for that matter, stand to gain anything. The Chamber is right to stand against this terrible legislation and not bow down to the pressure of a few powerful members. I hope they continue their strong stance. Add your voice to the opposition by visiting http://tiny.cc/pkCoG.
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