Barack Obama has been accused of watering down the climate change bill following pressure from coal and oil companies. The policy that originally would have required companies wanting to build greenhouse gas emitting power stations and producing carbon emissions to pay for a permit and penalised them per tonne for carbon emitted has been diluted following discussions in Congress.
Criticism is borne from a number of changes, including a dramatic change in the percentage reduction in carbon emissions compared to 1990. This stands to be down to 4%, which Greenpeace’s Joss Garman pointed out on Newsnight tonight ought to be 40%. In addition, the carbon permits that were originally planned to be paid for will now be given out free to 85% of emitters; another aspect of the bill that is receiving criticism.
