Executives push Bush on climate change

[one...two...tree 2,762]

By H. JOSEF HEBERT, Associated Press Writer

The chief executives of 10 major corporations and business groups, on the eve of the State of the Union address, urged President Bush on Monday to support mandatory reductions in climate-changing pollution and establish reductions targets.

"We can and must take prompt action to establish a coordinated, economy-wide market-driven approach to climate protection," the executives from a broad range of industries said in a letter to the president.

Bush, who in the past has rejected mandatory controls on carbon dioxide and other "greenhouse" gases, was expected to address climate change in his State of the Union speech Tuesday night, but has repeatedly argued that voluntary efforts are the best approach.

Major industry groups such as the Chamber of Commerce and National Association of Manufacturers continue to oppose so-called "cap and trade" proposals to cut climate changing pollution, mainly carbon dioxide from burning fossil fuels.

But the 10 executives, representing major utilities, aluminum and chemical companies and financial institutions, said mandatory reductions are needed and that "the cornerstone of this approach" should be a cap-and-trade system.

The officials, expected to elaborate on their plan at a news conference later Monday, include the chief executives Alcoa Inc., PB America Inc., DuPont Co., Caterpillar Inc., General Electric Co., and Duke Energy Corp.

In the letter they urged Congress to enact legislation "to significantly reduce greenhouse gas emissions."

The first days of the new Democratically controlled Congress has seen a rush of legislation introduced to address climate change, all of which have some variation of a cap-and-trade approach to dealing with climate change.

Among those pushing cap-and-trade climate bills are two leading presidential aspirants, Sens. Barack, D-Ill. and John McCain (news, bio, voting record), R-Ariz.

Essentially such a mechanisms would have mandatory limits of greenhouse gas emissions, but would allow companies to trade emission credits to reduce the cost. Companies that can't meet the cap could purchase credits from those that exceed them or in some case from a government auction.

Also signing the letter to Bush were the executives of Lehman Brothers, PG&E Corp., PNM Resources, FPL Group and four leading environmental organizations.

[Ban Hammer 13,345]

i had a feeling you'd see this story and post it

[one...two...tree 2,762]

i had a feeling you'd see this story and post it

I think it's interesting but I'm weary of their motives. My guess is that they recognize their shareholders and the public are concerned about climate change.

[Robor007 0]

i had a feeling you'd see this story and post it

I think it's interesting but I'm weary of their motives. My guess is that they recognize their shareholders and the public are concerned about climate change.

If that's what it takes to bring about change I'm all for it. Bush's plan of 'voluntary efforts' is about as good as his handling of the middle east situation.

[Ban Hammer 13,345]

i had a feeling you'd see this story and post it

I think it's interesting but I'm weary of their motives. My guess is that they recognize their shareholders and the public are concerned about climate change.

weary or wary?

[one...two...tree 2,762]

i had a feeling you'd see this story and post it

I think it's interesting but I'm weary of their motives. My guess is that they recognize their shareholders and the public are concerned about climate change.

weary or wary?

you trying to fill in for Alex?

[Ban Hammer 13,345]

i had a feeling you'd see this story and post it

I think it's interesting but I'm weary of their motives. My guess is that they recognize their shareholders and the public are concerned about climate change.

weary or wary?

you trying to fill in for Alex?

lol

[dalegg 143]

Essentially such a mechanisms would have mandatory limits of greenhouse gas emissions, but would allow companies to trade emission credits to reduce the cost. Companies that can't meet the cap could purchase credits from those that exceed them or in some case from a government auction.

And the net reduction in greenhouse gas emissions is......nothing.

[peejay 327]

Essentially such a mechanisms would have mandatory limits of greenhouse gas emissions, but would allow companies to trade emission credits to reduce the cost. Companies that can't meet the cap could purchase credits from those that exceed them or in some case from a government auction.

And the net reduction in greenhouse gas emissions is......nothing.

Which is why they are joining the fray now so they can preemptively influence policy on their terms and in their own best corporate interests. It will be the same as "immigration policy" over the last 20+years...smoke, mirrors, and bullsh!t. Pablum and pacifiers for the masses while they shove lobbying $$$ at the politicians to get their way.

Do I sound jaded? This isn't my first rodeo.