With carbon cap-and-trade legislation now on Washington's agenda, companies and interest groups have been hiring lobbyists at a feverish pace. For every member of Congress, there are now four climate lobbyists, many of them hoping to derail or water down the effort to reduce greenhouse gas emissions.
Excerpt: Climate action advocates found the sign they had been waiting for in Summary Table 4 of President Obama's budget plan: The administration intends to place a price on carbon dioxide emissions that would cost fossil fuel industries $646 billion through 2019--creating a new pot of federal money in the process.
That stark row of numbers also gave opponents of climate legislation what they had been waiting for: a call to arms. "The Obama budget did more to help us consolidate and coalesce the business community than anything we could have done," William Kovacs, who heads up regulatory affairs at the U.S. Chamber of Commerce, told The Wall Street Journal.