Waxman Deal in Place?

by Paul Chesser, Heartland Institute Correspondent
May 15, 2009 @ 5:08 pm

The San Francisco Chronicle reports that Rep. Henry Waxman thinks (despite what Rep. Joe Barton says) he has a deal to pass his cap-and-energy-tax legislation out of an Energy and Environment Subcommittee:

Congressional leaders who support a new cap on greenhouse-gas emissions reached agreement on a plan Thursday to ease the burden it will impose on refiners, paving the way for a key House panel to vote on the climate-change proposal next week.

Rep. Henry Waxman, D-Los Angeles, chairman of the House Energy and Commerce Committee, and Rep. Edward Markey, D-Mass., signed off on the compromise with Texas Democrats Gene Green and Charles Gonzalez. The cornerstone of their deal was a commitment to donate 2 percent of valuable carbon dioxide emissions permits to refiners.

Coal and electric have been declared the “big winners,” but the refinery permits do not appear to be enough (see 5/15 entry) for “Big Oil:”

Unfortunately, while the proposal is meant to solve a serious environmental challenge and spur growth in our weak economy, its inequitable system of allocations will have a disproportionate adverse impact on consumers and producers of gasoline, diesel fuel, jet fuel, crude oil and natural gas. Those who drive, fly or take the bus or train to work will shoulder a disproportionate burden and this must be rectified. Emission allowances will be distributed inequitably, ultimately imposing greater costs on consumers and producers of oil and gas.

No official comment was immediately available from residential thermostat adjusters or do-it-yourself gasoline pumpers.

From http://www.globalwarming.org/