From the story: The Lieberman-Warner bill sets a cap on greenhouse gas emissions that would reduce them by 70% by 2050. Companies would need permits to emit pollutants that cause global warming. The government would allocate some permits to utilities and industrial companies, and auction others to generate revenues. The question of how to distribute permits and what to do with the money divides even supporters of greenhouse gas regulation. Story notes the legislation “will raise the prices of electricity and gasoline. In fact, a key purpose of the bill is to put a price on the emissions of greenhouse gases, as a way to speed the transition to a clean-energy economy and slow down global warming.”
CNN
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