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View Diary: Sanders-Boxer climate protection bill includes carbon fee for nearly 3,000 top fossil fuel polluters (91 comments)

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  •  Great! But beware of lawyers! (4+ / 0-)
    This would apply to the 2,869 largest polluters (oil refineries, coal mines, point of importation) covering about 85 percent of U.S. greenhouse gas emissions.
    OK, if instead of a Social Security disability lawyer (which I really am), I were a Big Greenhouse Emitter lawyer, here's what I would advise my Big Greenhouse Emitter client:
    The carbon price applies to emitters of over 10 million tons of greenhouse gases a year. Your 6 power plants emit a total of 12 million tons a year. So split your company into two companies. Every stockholder trades one share of stock in the old company for one share in EACH of the two new companies. Each new company owns 3 power plants and emits a total of 6 million tons of GHG. Thus we escape the GHG tax.
    [Note: I made up the 10 million tons part for purposes of illustration only.]

    This is the same type of thing we're seeing with Obamacare: it applies to people working 30 hours a week or more, so employers are capping weekly hours at 29.

    Is there something in the bill that would ensure this doesn't happen?

    "The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals." - Barack Obama

    by HeyMikey on Thu Feb 14, 2013 at 01:53:27 PM PST

    •  Good point. Similar to original Clean Air Act that (2+ / 0-)
      Recommended by:
      HeyMikey, Eric Nelson

      distinguished between "existing" facilities and "new" facilities regarding how much they could pollute. Of course many new sources did their darndest, with their lawyers' help, to make their otherwise new source of pollution (with more stringent standards) qualify as merely a change to an existing source (with grandfathered-in less stringent standards.)

      There are plenty of good environmental lawyers out there who I would hope are advising the authors of the legislation how to avoid the scenario you cite.

      Resist much, obey little. ~~Edward Abbey, via Walt Whitman

      by willyr on Thu Feb 14, 2013 at 02:27:04 PM PST

      [ Parent ]

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