May 14, 2009

Cap-and-Trade pains

I mentioned about Kimberly-Clark's recent prediction that any cap-and-trade bills in Washington will not pass this year as the government is broke right now and can't afford to pass a risky (and possibly expensive) legislation.

ICIS Chemical Business (the magazine I work for) actually interviewed Eastman Chemical's chairman and CEO Brian Ferguson who is also outspoken and more critical about the cap-and-trade proposal.
"The cap-and-trade proposal, which would tax US companies using fossil fuels, could be “crippling” to US manufacturers," Ferguson said.

“These are additional costs that foreign competitors who import into the US wouldn’t have to bear. We must have an energy policy that takes this into account and does not put us at further competitive disadvantage.”

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