Political Control

What's the matter with government running energy? Three words: Representative Henry Waxman

Rep. Gene Green, D-Texas, represents a district with several oil refineries, a huge source of greenhouse gas emissions. He also serves on the House Energy and Commerce Committee, which must approve the global warming plan backed by President Barack Obama.

Green says Rep. Henry Waxman, D-Calif., who heads the panel, is trying to entice him into voting for the bill by giving some refineries favorable treatment in the administration’s “cap and trade” system, which is expected to generate hundreds of billions of dollars over the coming years. Under the plan, companies would pay for the right to emit carbon dioxide, but Green and other lawmakers are angling to get a free pass for refineries in their districts.

Yet some people still believe this is going to provide more, cheaper, greener power than a free market. Hat-tip Insty, who also links to Brian Doherty's take.

UPDATE: Kim Strassel. Kim Strassel. Kim Strassel

Posted by John Kranz at April 24, 2009 12:23 PM