February 16, 2010
I fear some good people -- even some around ThreeSources -- are too optimistic too soon about the collapse of the global warming debate. What's the Star Wars line? Nice shooting, kid, don't get cocky!
But I'll confess we're having a realty really really really good few weeks here.
ConocoPhillips, BP America and Caterpillar pulled out of a leading alliance of businesses and environmental groups pushing for climate change legislation on Tuesday, citing complaints that the bills under consideration are unfair to American industry.
UPDATE: The WSJ Ed Page agrees.
The departing are BP America, Conoco Phillips and Caterpillar, which were among the original members of USCAP, a coalition of green pressure groups and Fortune 500 businesses that tried to drive a cap-and-trade program into law. Some corporate members concluded that climate legislation was inevitable and hoped to tip it in a more business-friendly direction. Others—ahem, General Electric—are in our view engaged in little more than old-fashioned rent-seeking. Through regulatory gaming, Congress would choose business winners and losers, dispensing billions of dollars in carbon permits to the politically connected.Deleterious Anthropogenic Warming of the Globe Posted by John Kranz at February 16, 2010 6:16 PM