The outlines of a bill considered a frontrunner in the Senate, to be co-sponsored by Sens. Joseph I. Lieberman, a Connecticut independent who caucuses with Democrats, and John Warner (R-Va.), calls for 20 percent of the credits to be auctioned. The other 80 percent, which would be allocated free, would be worth billions in the market that would be created. Some environmental groups are calling for a 100 percent auction of credits.The cap-and-auction solution is infinitely preferable to the cap-and-handout system, though I'm basically lukewarm on cap-and-trade systems generally. But whatever we choose -- carbon taxes or cap-and-trade -- either is preferable to nothing.
Lieberman, following a forum sponsored by the Progressive Policy Institute Wednesday, said such a change to his legislation was possible. “We’ve heard [calls for a 100 percent auction] from some stakeholders and heard that from some of our members. We’re thinking about it. Warner and I haven’t closed our minds to that. It’s on the table,” he said.
Thursday, September 20, 2007
Jesus. I might have to sing the praises of Joe Lieberman. That's gonna need a shower.