Industry Tries to Put a Cap in Cap-and-Trade

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"America's oil, gas and coal industry has increased its lobbying budget by 50%, with key players spending $44.5 [million] in the first three months of this year in an intense effort to cut off support" for cap and trade legislation to reduce U.S. greenhouse gas emissions. The campaign "involves industry front groups, lobbying firms, television, print and radio advertising, and donations to pivotal members of Congress," reports The Guardian. The goal "is to water down or kill off" cap and trade measures. "Despite its global significance, the fate of the draft 'cap and trade' bill now lies in the hands of just a dozen Democrats. ... Seven of those pivotal Democrats received campaign donations in excess of $100,000 from the oil and gas industry, coal producers, and electricity firms during last year's elections. ... Another two received more than $90,000 last year."