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Why Waxman - Markey Bill Is Bad for U.S. Consumer, Energy Industry

Posted on June 28, 2009

A few of the key planks in the current administration's platform were the lessening of US dependence on foreign energy, creating/saving US jobs, and, of course, improving the environment. Bloomberg came out with an interesting piece on the Waxman-Markey bill, coming up to a vote in the next day or so. It pointed out some of the ramifications of the bill, should it pass as currently written. The bottom line is that passage of the bill would result in a cost benefit to foreign refiners of reducing every dollar of carbon costs by $.10, or 10%, meaning that US refineries (at least the most ineffic...

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