Bush Rejects Carbon Cap Plan; State of the Nation Speech tomorrow to Stress Alternative Fuel - by Brendan Murray and Kim Chipman
President George W. Bush has rejected an industry-driven proposal to impose limits on carbon dioxide emissions, and his State of the Union address tomorrow will focus instead on promoting alternatives to fossil fuels, White House spokesman Tony Snow said. General Electric Co. and Lehman Brothers Holdings Inc. are among 10 companies urging Bush today to establish a cap on carbon dioxide emissions with a goal of reducing such pollution by as much as 30 percent within 15 years. The alliance seeks a so-called cap-and-trade system to curb the growth in emissions.
``There's been some talk about sort of binding, economy- wide carbon caps in the speech, but they are not part of the president's proposal,'' Snow said in a briefing in Washington.
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