Financial Times FT.com

Hot air over cap-and-trade

By Hal Weitzman

Published: September 22 2009 17:45 | Last updated: September 22 2009 17:45

The Verizon Wireless Theater, a stadium in downtown Houston, is known locally as a live-music venue. In recent weeks it has featured performances by Alice Cooper, the histrionic rocker, and John Legend, the smooth soul star.

But last month, the arena was host to a quite different gathering – a show of force by some of the biggest US oil companies against proposed climate-change legislation currently being debated in Washington.

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