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Will the new climate bill damage U.S. energy security?

This piece was co-authored by Michael A. Levi of the Council on Foreign Relations. Few groups have been more strident in their opposition to cap-and-trade legislation than the U.S. Chamber of Commerce. Last year, four prominent members of the powerful business lobby, including Exelon Corp. and Pacific Gas & Electric, quit on account of its obstructionist approach to climate policy. When some activists announced, in a prank press conference, that the chamber would throw its weight behind an ambitious climate bill, the group responded with a lawsuit. In arguing against cap-and-trade, the chamber has repeatedly advanced the notion that such …

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CBO stumbles into the green jobs debate

Cross-posted from the Peterson Institute for International Economics. On May 5, the Congressional Budget Office (CBO) released an issue brief titled "How Policies to Reduce Greenhouse Gas Emissions Could Affect Employment" [PDF]. With unemployment hovering stubbornly around 10 percent, the report could shape the Senate's appetite for taking up the energy and climate change bill being drafted by Sens. Kerry, Graham, and Lieberman. Unfortunately it's a pretty weak initial offering by Congress's independent research shop at a time when the Hill is particularly hungry for good analysis. I last weighed in on the "green jobs" debate in early 2009 as …