Global warming skeptic Senator James Inhofe delivered a knockout blow to Senate Environmental and Public Works Committee Chairwoman Barbara Boxer. Inhofe turned the global warming bill into a 'tax' by describing it as another way to raise energy prices. It worked. Although nobody really expected global warming legislation to pass this year, the 'Big Mo' was building until high gasoline and electricity prices scared the public back into its myopia.
Senator Boxer did get 48 of the 60 votes needed to pass the Lieberman-Warner legislation. AAEA supported the bill and generally supports climate change legislation. We do no support auctioning the offsets. That increases the price tag. The second heavyweight global warming fight will see a new president in office and a new energy bill will probably be in play. But unless energy prices start moving south, prospects for any climate change legislation will be dim. The Ali-Frazier contest still favors Ali (Boxer as Ali and Inhofe as Frazier).
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