January 23rd, 2008: Select Committee Hearing, "Cap, Auction, and Trade"

On Wednesday, January 23rd 2008, Chairman Edward Markey (D-Mass.) and the Select Committee on Energy Independence and Global Warming held a hearing entitled "Cap, Auction, and Trade: Auctions and Revenue Recycling Under Carbon Cap and Trade." This hearing examined the potential role of auctioning tradable pollution allowances under a cap-and-trade system to reduce global warming pollution, instead of giving them away for free to polluters -- and potential uses for the tens of billions of dollars that could be generated through such auctions. WHAT: Select Committee hearing: "Cap, Auction, and Trade: Auctions and Revenue Recycling Under Carbon Cap and Trade" WHEN: 9:30 AM, Wednesday, January 23, 2008 WHERE: 2128 Rayburn House Office Building, Washington, DC or on the web at globalwarming.house.gov OPENING STATEMENT: Chairman Edward J. Markey PANEL: Hon. Ian Bowles, Secretary of Energy and Environmental Affairs, Commonwealth of Massachusetts (appendix) Peter Zapfel, Coordinator for Carbon Markets and Energy Policy, European Commission -- Environment Directorate General Dallas Burtraw, Senior Fellow, Resources for the Future John Podesta, President and Chief Executive Officer, Center for American Progress (appendix) Robert Greenstein, Executive Director, Center on Budget Policies and Priorities