All you need to know about the U.S. Congress’s 600-page draft bill on energy and climate
In two entries, the Wall Street Journal’s Environmental Capital blog spells out much of what you need to know about the U.S. Congress’s 600-page draft bill on energy and climate, sponsored by Democrats Henry Waxman and Ed Markey. In broad strokes the document calls for the U.S. to cut its greenhouse-gas emissions by 83 per cent from 2005 levels by 2050 under a cap and trade system. But it’s the transitionary stuff–the handholding of big, vulnerable industries through the new regime–that suggests most forcefully the draft isn’t merely a pie-in-the-sky trial balloon.