Climate Change Legislation and The Selling of Indulgences

[courtesy of Blog for America]

Dear All,

In the grand tradition of the savings and loan debacle of the 80's, the mortgaged backed securities meltdown that currently threatens to undermine our financial markets, NAFTA, GATT, and the invasion & occupation of Iraq, our leaders in the Senate are once again preparing to hoist upon an unsuspecting public another catastrophe in the making.  I am referring to Senate Bill 2191, America's Climate Security Act.  This insidious piece of legislation crafted by Senators Lieberman and Warner and lined with ways for the most clever and unscrupulous among us to make "big bucks" includes the: 

Establishment of a greenhouse gas (GHG) registry and a GHG emission allowance transfer system for covered facilities, including specified facilities within the electric power and industrial sectors and facilities that produce or entities that import petroleum- or coal- based transportation fuel or chemicals. Sets forth emission allowances for 2012-2050, with a declining cap on GHGs;