Web Osi Speaks!

Sunday, July 12, 2009

Detour To Kentucky: Dan Mongiardo Opposes "Cap And Trade", Jack Conway Attempts To Have It Both Ways While Kentucky's Congressional Delegation Splits.

Democratic Senate hopefuls split on 'cap and trade' energy bill
By Joseph Gerth

The two major Democratic candidates in Kentucky's 2010 U.S. Senate race disagree on the controversial "cap and trade" energy legislation that is before the Senate.

Lt. Gov. Daniel Mongiardo of Hazard said he opposes the legislation because it would harm Kentucky's coal industry and raise energy costs for all Kentuckians.

Attorney General Jack Conway of Louisville said he favors it as long as there are provisions that protect American consumers and businesses.

The bill, as it passed the House, requires more energy-efficient building codes, as well as investments in electric vehicles and cleaner-coal technology.

The most controversial element would limit the overall emission of greenhouse gases such as carbon dioxide and methane. Those industries that produce less could sell credits to companies that produce more — hence the name "cap and trade."

The bill would increase costs for consumers because it would force many industries to invest in expensive technology to reduce emissions if they wish to expand.

The bill would require cutting 2005 greenhouse gas emission levels by 17 percent in 11 years and 83 percent by 2050.

The issue is a top priority for President Barack Obama.

There is agreement that the legislation would cost consumers more, but estimates of those costs vary. And the legislation that passed the House attempted to offset some of the costs.

E.On U.S., the parent company of LG&E and Kentucky Utilities, has said that residential customers in Kentucky would see their rates rise about $10.50 a month in three years and about $19 by 2020. Commercial customers could see their rates rise as much as 39 percent by 2020.

U.S. Sen. Jim Bunning, a Republican who is seeking re-election next year, opposes "cap and trade" legislation, as does Secretary of State Trey Grayson, who is generally thought to be the top Republican contender if Bunning decides to get out of the race.

Kentucky's House delegation split on the issue, with Democratic Reps. John Yarmuth of Louisville and Ben Chandler of Versailles voting for the bill and Republican Reps. Ed Whitfield of Hopkinsville, Brett Guthrie of Bowling Green, Geoff Davis of Hebron and Harold "Hal" Rogers of Somerset opposing it.

Labels: , ,


Post a Comment

<< Home