Bob Corker on Lieberman-Warner:

"This bill misses the mark."

The 500-plus-page Lieberman-Warner Cap and Trade bill that was defeated in the U. S Senate today was a very complex bill and was fatally flawed. If you are unsure of the features of the bill and what was wrong with it, I urge you to watch this 16 minute clip of Senator Bob Corker’s Senate presentation.

Cap and Trade is dead for this session of Congress, but unless Congress develops the wisdom to offer a Carbon Tax, a Cap and Trade in some form is probably in our future. Everyone who cares about the issue of global warming needs to become conversant about the features of cap and trade. We can only hope that the next version of Cap and Trade is cured of the defects of the Lieberman-Warner bill.

Corker accepts the science of global warming. He does not demigod the bill, but calmly and clearly explains how cap and trade would work and what is wrong with the Lieberman-Warner bill. He explains that, “27% of the allocations in this bill go to entities that nothing to do with emitting carbons.” And, he says, “This bill transfers 6.7 trillion dollars in wealth.”

He argues that the foreign carbon offsets are fraudulent and should be deleted from the bill. “I am open to discussing cap and trade legislation that takes the country in the right direction,” says Corker. “This bill misses the mark.”

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