Shell Oil Tries to Ease 'Cap-and-Trade' Pain ; Wants to Shape Bill, Not Kill It
The Washington Times › March 05, 2009
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Summary
Shell Oil Co. President Marvin E. Odum said Wednesday that President Obama probably will win approval as early as next year for his signature environmental goal, a "cap-and-trade" system to reduce greenhouse gases.
The prediction runs counter to the hopes of many business lobbies that have been working hard to block the system, fearing it would impose huge new costs on them and consumers. Under the system, companies, including oil refiners, would pay the government for every ton of carbon dioxide they emit and could sell the right to pollute to others if they reduce their output below government limits.See the full content of this document
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Shell Oil Tries to Ease 'Cap-and-Trade' Pain ; Wants to Shape Bill, Not Kill It
Mr. Odum, who runs Royal Dutch Shell PLC's operations in the United States, said his company is planning for the enactment of the law, which Mr. Obama estimates will generate $646 billion between 2012 an...
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