From a Fabricating & Metalworking magazine press release:

PELHAM, Ala., Sept. 8 /PRNewswire/ — Metal components are used in virtually
all of the world’s most significant markets and innovations — think about
precision medical instruments, the aerospace industry, oil and gas equipment,
automotive machinery, computers, appliances and more — and each requires
electricity as they are being manufactured.
If the government has its way, that energy will soon make metalworking
applications more expensive and will ultimately affect costs all the way
through the supply chain, down to the prices paid by consumers.
Fabricating & Metalworking editor Mike Riley has been the most outspoken
opponent of the federal cap-and-trade legislation, also referred to as the
Waxman-Markey Bill.
“Passage of this bill will impose the largest tax increase in the history of
the world on you and me,” says Riley. “Most of the people I’ve spoken with
recently have never even heard of the Waxman-Markey bill. Under this
cap-and-trade legislation, utilities and other producers of CO2 will have
limits imposed on them by the honorables that they must meet by either
reducing their CO2 emissions or ‘buying’ credits from those companies that are
under those limits.”
“No one disagrees with the need to reduce carbon emissions, but cap-and-trade
legislation is not deterring companies from emitting CO2, they are allowing it
for a price,” notes Riley.
Fabricating & Metalworking recently covered remarks delivered at the 11th
annual Electric Power Conference & Exhibition in Rosemont, IL, where Michael
Morris, the chairman of American Electric Power in Columbus, OH, criticized
the use of cap-and-trade revenues to fund health care reform instead of
reinvesting in the electricity business, funding research and development into
carbon capture & sequestration (CCS) and other electric power infrastructure
investments.
“This is a regressive tax that is levied on business simply because they use
electricity. It is essential that our industry understands how this will
affect their operations,” states Riley.
Riley examines this bill and its severe impact on the steel industry in a
two-part series: Living in Neverland, which addresses the media’s lack of
interest in covering the truth about the impact of cap-and-trade; Part 1:
Naked and Unashamed, explores how the bill works and affects industry. Read
both of these in-depth stories at www.FandMmag.com.