On energy and climate change, President Bush’s team hinted at bold proposals in the State of the Union Speech. They didn’t materialize.
The president emphasized developing fuel alternatives such as ethanol, but noticeably missing was what many in industry and business see as inevitable: mandatory caps on carbon emissions.
A Wall Street Journal front-page article reported that many utilities see the writing on the wall in Congress for some kind of “cap and trade” carbon emissions system and want to be at the table for the regulatory overhaul.
Look for Congress to lead on this issue this year — Bush continues to follow events, not lead them.
Posted by Randy Scholfield
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