June 12th, 2010

Cap And Trade Bill 2010 A Controversial Energy Bill after 2010 Oil Spill.  Senate minority leader Mitch McConnell has spoken out against the so-called “cap and trade” bill.  The bill is a controversial clean energy initiative strongly backed by the Obama administration.  What the cap and trade bill would do is tax companies based on their carbon emissions.

In order to accomplish this, companies would be given energy “credit” allowances.  Companies that did not use their energy credits could sell them to companies that needed more energy credits.  The bill is expected to raise the cost of energy for small businesses and consumers.

Since the bill is controverial, it’s said that the Senate is trying to piggy-back the cap-and-trade with an oil spill response bill – which would likely have the support of Americans who are genuinely concerned with the leaking oil in the waters of the Gulf.

The controversy over the cap-and-trade bill is that some of it is actually written by BP – the very company responsible for the oil spill that would require an oil spill response bill.

So as you can see once again a controversy is erupting on Capital Hill.  What do you think? Do you think that the cap-and-trade bill should be passed along with an oil spill response bill, or do you think it would be a conflict of interest?

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