Obama's cap and trade legislation has been pushed sideways,with twenty six [26] democrats defecting from party line.Many senators/representatives in Washington now say that the democrats could "KILL" the legislation.
When the senate voted 67-31 on April 2 to prohibit the use of reconciliation procedure including a cap and trade system it meant,at least,that matter has to be voted on by itself and can't just be thrown in as part of the budget.
This is a tough threshold for the Obama administration. The economy is such, that a big ticket item such as cap and trade will be a "tough sell" to the taxpayer.
Estimates on how much cap and trade will cost the U.S. "begin" at $US 350 billion,some advisers suggest that cap and trade could actually cost the country five [5] times that amount.
[Guess why the U.S.coal index is moving forward.]
UCG and Cougars "time" gets closer every day.
HM.
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CXY Price at posting:
8.6¢ Sentiment: None Disclosure: Held