Thursday, May 14, 2009

The Energy and Climate Change Bill Progresses (slooowly...)

It appears that the Waxman-Markey bill is coming out of committee finally. The lobbying efforts appear to have been quite successful, with the breakup as follows:

(1). Utilities : 35%
(2). Energy Intensive Industries (Steel, Aluminum, and Cement): 15%
(3). Refineries: ??
(4). Auto: 3%

So, in all, more than 50% is of the credits are already spoken for. This is almost exactly along expected lines. The key is the sunset provisions for these credits, whether they expire automatically, or not, a point that Felix Salmon addressed earlier.

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