The Competitive Enterprise Institute Daily Update

Issues in the News

1. ENVIRONMENT

Virgin Atlantic chief Richard Branson offers a $25 million prize for the invention of a technology capable of removing greenhouse gases from the atmosphere.

CEI Expert Available to Comment: Senior Fellow what every citizen should know about global warming: 

“Alarm over the prospect of the Earth warming is not warranted by the agreed science or economics of the issue. Global warming is happening and man is responsible for at least some of it. Yet this does not mean that global warming will cause enough damage to the Earth and humanity to require drastic cuts in energy use, a policy that would have damaging consequences of its own. Moreover, science cannot answer questions that are at heart economic or political, such as whether the Kyoto Protocol is worthwhile.”

2. BUSINESS

The Securities and Exchange Commission considers rules that would force companies to change their procedures for nominating directors.

CEI Experts Available to Comment: Center for Entrepreneurship’s John Berlau on why the SEC should say no to the proposed rules changes:

“Forcing companies to let certain investors nominate directors on company proxies would let special interests gain seats on corporate boards and/or use the threat of director nomination to push through agendas that advance their own political interests but destroy shareholder value.”

3. CONGRESS

Senators debate who should shoulder the costs of proposed legislation designed to combat global warming.

CEI Experts Available to Comment: Adjunct Analyst Steven Milloy on why current climate change bills are self-defeating: 

“A bill drafted by Senate Energy Committee chairman Jeff Bingaman, D-N.M., is the most economically palatable bill and seems to have the most interest on Capitol Hill. But it would likely accomplish little in terms of reducing greenhouse gas emissions — the ostensible purpose of global warming regulation.”