Today, on MasterResource.Org, the free-market energy blog, I examine the Kerry-Boxer bill’s not-so-hidden fangs.
Like its House companion bill, Waxman-Markey, Title VII, Part A of Kerry-Boxer contains language that will:
- encourage CO2 tort litigation against businesses smaller than those subject to the cap-and-trade program, and
- pressure policymakers to “move the goal posts” (amend the legislation to tighten the caps).
Bottom Line: The costs of climate legislation may greatly exceed the most pessimistic estimates of recent modeling studies. Those looking for “regulatory certainty” in these bills haven’t read the fine print.