Katie Gray Attends Cap & Trade Seminar in Auburn

The Maine State Chamber of Commerce, in conjunction with the U.S. Chamber of Commerce, sponsored a presentation on proposed federal cap-and-trade legislation.  The presentation was held at the Hilton Garden Inn in Auburn, Maine.  Katie Gray, an Associate in Verrill Dana's Energy Practice Group, attended, along with several other members of Maine's legal, business, and political communities.

Ross Eisenberg, from the U.S. Chamber, argued that the proposed federal legislation would be extremely complicated and too costly for businesses, and that even a best-case scenario reduction in warming would be minimal.  In essence, the costs would far outweigh the benefits.  Climate initiatives must be arranged on a global scale, not piecemeal on a country-by-country basis, in order to be effective, the U.S. Chamber argues.  Dr. Margo Thorning, of the American Council for Capital Formation, outlined her statistical analysis arguing the same.

David Littell, a commissioner with the Maine Department of Environmental Protection, focused on the serious problems posed by global warming and what they mean for Maine.  He also pointed to the success of the RGGI program in Maine.

Some major corporations, including Nike and Apple, have abandoned their memberships on the U.S. Chamber's board over the Chamber's position on federal efforts to combat global warming.  Others, like Johnson & Johnson and GE, have stayed on.  At least three major utilities--Exelon, PG&E, and PNM Resources--have withdrawn their memberships.