Industry Behind Proposed Limit on Emissions

As mentioned in the second article I posted on Wednesday, January 17 (scroll past Wal-Mart post), there is some electric industry executives behind a proposal for Congress to cap CO2 emissions. Presumably, these are executives of companies who are already below whatever cap would be proposed and, thus, would benefit by trading their emission credits to companies who would not be under the limit.

Today, more information has surfaced about this topic. A group calling themselves "United States Climate Action Partnership" is composed of General Electric, DuPont, Alcoa, Caterpillar, Duke Energy in North Carolina, PG&E in California, the FPL Group in Florida, and PNM Resources in New Mexico. The group plans on making a formal announcement of their ideas and intentions on Monday prior to when President Bush will make this year's State of the Union speech. As alluded to above, their announcement will give details on a cap-and-trade system in which companies who do emit below the allowed cap can trade their credits to those companies who exceed the limit.