Earthling Angst: Global warming debate in Senate set for next week
The Boxer version of the bill lists specific payoffs to different segments from the bill’s revenues, which will come from auction of credits:
• $911 billion for consumers for help with increased energy costs and energy efficiency projects. Most ($850B) would help with energy costs.
• $231B in assistance to steel, glass, aluminum, rubber and paper companies to make needed changes -- they're seen as the industries that will have the most trouble adjusting.
• $566B for states to deal with GHG cuts.
• $307B for electric utilities to revamp.
• $150B for renewable energy companies.
• $68B to the auto industry to retool for hybrids, plug-ins, electric and fuel-cell vehicles.
• $250B for adaptation to climate change, largely for coastal states.
• $288B for wildlife adaptation.
• $560B for a fund states can access if they switch over from their own emissions programs to the federal one.
(All these amounts are spread over 40 years)
