Financial Times FT.com

Climate Change Series

Matters of import

By James Politi

Published: September 15 2008 15:24 | Last updated: September 15 2008 15:24

When the US Senate began debating in early June whether to establish a sweeping cap-and-trade system to curb greenhouse gas emissions, the Bush administration vigorously opposed the proposal.

The White House said the Warner-Lieberman bill and an amendment proposed by Barbara Boxer of California would raise petrol prices sharply, impose burdensome mandates on US companies within unrealistic time frames, create bureaucracies and reduce economic growth.

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