Prior to Copenhagen, advocates of the US cap and trade legislation were arguing that although its ambition was likely to be low, the best strategy was to get it through the Senate and then aim to strengthen it.
The chances of passing a US climate bill with an economy wide emissions cap this year, however modest, now appear to be fading. Senator Lindsey Graham, the Republican sponsor of the bill who as such is critical to its success, was quoted in the New York Times as saying ‘Realistically, the cap-and-trade bills in the House and the Senate are going nowhere.’ Mr Graham believes that Americans favour a focus on jobs, either from clean energy or new oil exploitation, over a punitive emissions cap that forces up energy prices.
On Monday, we posted about two new opinion polls; they suggest Senator Graham may be correct, although others disagree and hold firm to the view that President Obama will use his State of the Union address to underline his commitment to a fully fledged climate bill. Continue reading