Energy Talks Continue on Capitol Hill

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Senate Republican Lindsey Graham of South Carolina says - we've done things on the energy side, we've got some buy-in from people on the left and the middle. We’ve got the best chance we’ll ever have to get meaningful energy independence. I just hope we don't blow it. But the question of cap-and-trade remains just that, a question. Graham thinks - from the Democratic left point of view, you've got the best chance you'll ever have to have carbon pollution controls. Don't let it pass.

But, what’s in a name? Senators Maria Cantwell of Washington and Susan Collins of Maine have proposed Senate bill 2877, a - cap and dividend - proposal. As written, allocations would be auctioned off with the revenue returned directly to taxpayers. Graham says this proposal - has some aspects that make sense.

Senate moderates from both parties -- including Agriculture Chairwoman Blanche Lincoln, Budget Chairman Kent Conrad, and Senators Byron Dorgan and Judd Gregg -- are pushing President Obama to accept an energy-only approach without putting a price on carbon emissions the way the House-passed bill, H.R. 2454, does. But, the main priority remains, according to Senator Conrad, - a bill to reduce our dependence on foreign energy.