Barbara Boxer sketches global-warming 'principles' | Greenspace | Los Angeles Times

...no Republicans showed up, and the committee's top GOP member -- Sen. James Inhofe of Oklahoma, a vocal global-warming skeptic -- blasted the principles in a press release.

"At a time when Congress is debating a near-term multi-billion-dollar bailout for the American economy, once again the Democrats are proposing principles for climate legislation that will impose a long-term multi-trillion-dollar energy tax on families and workers,” he said.

“As demonstrated last year, when it comes to drafting comprehensive climate legislation, the devil is in the details. These principles offer nothing more than a punt on all of the difficult issues that Americans expect to be honestly debated. Congressional cap-and-trade bills, often touted as an ‘insurance policy’ against global warming, would instead be nothing more than all economic pain for no climate gain. We look forward to debating these tough issues in the Committee this year.”

Lord Stern: Bankers can profit from climate scam - Low Carbon Economy

Assisting the transition to a low carbon economy could help banks recover their status and profits, according to a climate change expert.

Lord Stern, who first placed climate change in an economic setting with a report in 2006, said that financial institutions would be essential to building a low-carbon infrastructure, reports the Times.

"Banking could do very well as Britain moves to a low carbon economy," the newspaper quotes him as saying at the World Economic Forum in Davos.

"There will be lots of business opportunities and Britain’s bankers are particularly strong in this area. They have been very creative over all kinds of issues and they could do it again in the financing of green initiatives."