Bush Administration Still Opposes Greenhouse Cap

[papau]

Bush Administration Still Opposes Greenhouse Cap, Official Says

By Joshua Fellman

Sept. 4 (Bloomberg) -- The Bush administration hasn't dropped its objection to a nationwide cap as a means of cutting U.S. greenhouse gas emissions even as states impose limits, the chairman of the White House Council on Environmental Quality said.

``There is great power in market-based approaches such as caps and trades,'' James Connaughton said in an interview in Hong Kong on Sept. 2. ``It's just a question of if it's the appropriate tool at the appropriate time when it comes to CO2, and our policy judgment to date is it's not.'' <snip>

It will take several years to assess the effectiveness of initiatives by California and seven states in the Northeast of the U.S., including New York and New Jersey, aimed at cutting greenhouse gas emissions, Connaughton said. <snip>

The U.S. Senate adopted a resolution in 2005 acknowledging that greenhouse gases are causing temperatures to rise. Republican Senator Pete Domenici and Democrat Jeff Bingaman are drafting legislation aimed at halting emissions increases without harming the economy.<snip>

[Monkeyman]

1. Sure he does his buddies would have to spend some money