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  Companies Gear Up for Greenhouse Gas Limits
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ContributorArmyDem 
Last EditedArmyDem  May 28, 2007 10:34pm
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CategoryNews
MediaNewspaper - Washington Post
News DateWednesday, May 30, 2007 04:00:00 AM UTC0:0
DescriptionTrading of Permits Grows as Congress Considers Caps

By Steven Mufson
Washington Post Staff Writer
Tuesday, May 29, 2007; Page D01

Congress hasn't come up with a plan for limiting greenhouse-gas emissions, but U.S. companies are wagering billions of dollars that it will.

Convinced that rules aimed at slowing climate change are inevitable, coal-fired power generators are reexamining construction plans, fund managers are raising billions of dollars to invest in projects to combat climate change, insurance firms are devising new products and at least one utility has inserted a novel global-warming provision in a contract.

"It's a matter of when, not if," said Paul Hanrahan, chief executive of AES in Arlington.

The companies are moving now as Senate committees consider five bills that would create a cap-and-trade system, which would issue tradable allowances for limited greenhouse-gas emissions. So far, 21 major corporations have joined a coalition pressing for "immediate action to enact mandatory national legislation."
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